Moors & Cabot Inc. Raises Stake in BlackRock, Inc. (NYSE:BLK)

Moors & Cabot Inc. increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,360 shares of the asset manager’s stock after acquiring an additional 179 shares during the quarter. Moors & Cabot Inc.’s holdings in BlackRock were worth $8,887,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Fairscale Capital LLC purchased a new stake in shares of BlackRock in the 2nd quarter valued at approximately $31,000. Reston Wealth Management LLC purchased a new position in shares of BlackRock in the third quarter valued at approximately $37,000. MFA Wealth Advisors LLC grew its holdings in shares of BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares in the last quarter. Addison Advisors LLC increased its stake in BlackRock by 81.5% during the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after buying an additional 22 shares during the period. Finally, Olistico Wealth LLC purchased a new position in BlackRock in the 2nd quarter valued at approximately $53,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of NYSE BLK traded down $1.97 during midday trading on Wednesday, reaching $1,026.14. 50,807 shares of the company were exchanged, compared to its average volume of 572,824. The stock has a fifty day simple moving average of $975.38 and a 200 day simple moving average of $875.55. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market cap of $158.93 billion, a P/E ratio of 25.38, a PEG ratio of 1.87 and a beta of 1.30. BlackRock, Inc. has a 1 year low of $718.72 and a 1 year high of $1,068.34.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the previous year, the firm posted $10.91 EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. On average, research analysts forecast that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BLK has been the topic of several analyst reports. Wells Fargo & Company increased their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Barclays lifted their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. upped their target price on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Morgan Stanley lifted their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and an average target price of $1,019.62.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.90% of the stock is owned by corporate insiders.

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.