BlackRock, Inc. (NYSE:BLK) Shares Bought by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 5.4% during the third quarter, HoldingsChannel reports. The fund owned 1,640 shares of the asset manager’s stock after acquiring an additional 84 shares during the quarter. Weatherly Asset Management L. P.’s holdings in BlackRock were worth $1,557,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new stake in shares of BlackRock during the 2nd quarter worth $31,000. Reston Wealth Management LLC purchased a new position in shares of BlackRock during the third quarter valued at approximately $37,000. Chilton Capital Management LLC purchased a new position in BlackRock during the first quarter worth approximately $38,000. MFA Wealth Advisors LLC raised its stake in BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after purchasing an additional 20 shares during the period. Finally, Olistico Wealth LLC purchased a new position in BlackRock during the second quarter worth approximately $53,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BLK. TD Cowen increased their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Morgan Stanley raised their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Argus raised their target price on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Citigroup raised their target price on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $995.31.

BlackRock Price Performance

Shares of BLK stock opened at $985.71 on Friday. The firm has a market cap of $146.01 billion, a P/E ratio of 24.33, a P/E/G ratio of 1.76 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a 1-year low of $623.77 and a 1-year high of $1,032.00. The firm has a fifty day moving average of $940.00 and a two-hundred day moving average of $850.84.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the business earned $10.91 EPS. As a group, research analysts anticipate that BlackRock, Inc. will post 42.94 earnings per share for the current fiscal year.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the firm’s 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 transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Mark Wiedman sold 12,000 shares of the firm’s 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 transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 353,718 shares in the company, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,511 shares of company stock worth $55,568,552. 0.90% of the stock is currently owned by insiders.

BlackRock 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.