Capital Advisors Ltd. LLC Raises Position in BlackRock, Inc. (NYSE:BLK)

Capital Advisors Ltd. LLC grew its position in shares of BlackRock, Inc. (NYSE:BLK) by 2.8% during the third quarter, HoldingsChannel reports. The firm owned 722 shares of the asset manager’s stock after buying an additional 20 shares during the period. Capital Advisors Ltd. LLC’s holdings in BlackRock were worth $685,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BLK. GHP Investment Advisors Inc. boosted its stake in shares of BlackRock by 0.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 4,608 shares of the asset manager’s stock valued at $4,375,000 after buying an additional 31 shares during the last quarter. Farrow Financial Inc. raised its stake in shares of BlackRock by 0.5% in the 3rd quarter. Farrow Financial Inc. now owns 2,592 shares of the asset manager’s stock valued at $2,461,000 after purchasing an additional 14 shares in the last quarter. Covenant Partners LLC lifted its position in shares of BlackRock by 1.7% during the third quarter. Covenant Partners LLC now owns 1,355 shares of the asset manager’s stock worth $1,287,000 after purchasing an additional 23 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in BlackRock by 5.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 31,945 shares of the asset manager’s stock worth $30,332,000 after purchasing an additional 1,681 shares in the last quarter. Finally, PFG Investments LLC increased its holdings in BlackRock by 10.8% in the third quarter. PFG Investments LLC now owns 781 shares of the asset manager’s stock valued at $741,000 after buying an additional 76 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on BLK shares. StockNews.com assumed coverage on BlackRock in a research report on Sunday, October 20th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods boosted their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. The Goldman Sachs Group increased their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Barclays boosted their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company raised their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $995.31.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,042 shares of company stock valued at $56,857,777. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

BLK stock opened at $974.07 on Friday. The company has a 50-day simple moving average of $928.50 and a 200 day simple moving average of $844.05. The company has a market capitalization of $144.75 billion, a P/E ratio of 24.75, a PEG ratio of 1.94 and a beta of 1.30. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $1,032.00.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the business posted $10.91 EPS. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. Sell-side analysts predict that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

About BlackRock

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.