Abacus Planning Group Inc. Acquires New Holdings in BlackRock (BLK)

Abacus Planning Group Inc. bought a new stake in BlackRock (NYSE:BLK) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 579 shares of the asset manager’s stock, valued at approximately $314,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Princeton Capital Management LLC bought a new stake in BlackRock during the first quarter worth about $115,000. Bray Capital Advisors bought a new stake in BlackRock during the first quarter worth about $128,000. Assetmark Inc. grew its stake in BlackRock by 57.1% during the fourth quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock worth $143,000 after buying an additional 101 shares during the last quarter. Oakworth Capital Inc. grew its stake in BlackRock by 67.6% during the fourth quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock worth $153,000 after buying an additional 123 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. bought a new stake in BlackRock during the fourth quarter worth about $181,000. 84.44% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Ryan Stork sold 7,136 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $543.50, for a total value of $3,878,416.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Robert L. Goldstein sold 5,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $558.00, for a total transaction of $2,790,000.00. The disclosure for this sale can be found here. Insiders sold 15,686 shares of company stock worth $8,573,450 over the last 90 days. 1.86% of the stock is currently owned by company insiders.

BLK has been the topic of several research analyst reports. ValuEngine cut shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Citigroup cut shares of BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 price objective on the stock. in a research note on Thursday, January 25th. Zacks Investment Research cut shares of BlackRock from a “hold” rating to a “sell” rating in a research note on Tuesday, March 20th. Deutsche Bank decreased their price objective on shares of BlackRock to $623.00 and set a “buy” rating on the stock in a research note on Tuesday, March 6th. Finally, Credit Suisse Group upped their target price on shares of BlackRock from $672.00 to $678.00 and gave the stock an “outperform” rating in a research report on Thursday, April 5th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $566.62.

Shares of BlackRock opened at $535.58 on Friday, MarketBeat.com reports. BlackRock has a 1 year low of $530.37 and a 1 year high of $536.99. The company has a market cap of $86.10 billion, a PE ratio of 22.15, a P/E/G ratio of 1.61 and a beta of 1.67. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 1.02.

BlackRock (NYSE:BLK) last announced its earnings results on Thursday, April 12th. The asset manager reported $6.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $6.39 by $0.31. BlackRock had a net margin of 39.22% and a return on equity of 12.76%. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same period in the prior year, the business earned $5.25 earnings per share. BlackRock’s quarterly revenue was up 15.9% on a year-over-year basis. research analysts predict that BlackRock will post 28.06 EPS for the current year.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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