Carmel Capital Partners LLC Has $559,000 Holdings in BlackRock, Inc. (NYSE:BLK)

Carmel Capital Partners LLC grew its holdings in BlackRock, Inc. (NYSE:BLK) by 5.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 589 shares of the asset manager’s stock after acquiring an additional 30 shares during the period. Carmel Capital Partners LLC’s holdings in BlackRock were worth $559,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Rather & Kittrell Inc. raised its stake in shares of BlackRock by 35.0% in the 3rd quarter. Rather & Kittrell Inc. now owns 409 shares of the asset manager’s stock valued at $388,000 after buying an additional 106 shares in the last quarter. Klingman & Associates LLC acquired a new stake in shares of BlackRock during the 3rd quarter worth about $463,000. Rovin Capital UT ADV acquired a new stake in shares of BlackRock during the 3rd quarter worth about $226,000. Washington Trust Advisors Inc. increased its position in shares of BlackRock by 6.2% during the 3rd quarter. Washington Trust Advisors Inc. now owns 1,641 shares of the asset manager’s stock worth $1,558,000 after purchasing an additional 96 shares in the last quarter. Finally, United Bank increased its position in shares of BlackRock by 1.1% during the 3rd quarter. United Bank now owns 1,121 shares of the asset manager’s stock worth $1,064,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Up 0.3 %

Shares of NYSE BLK opened at $1,039.28 on Friday. The firm’s 50-day moving average is $953.10 and its 200-day moving average is $860.23. BlackRock, Inc. has a 1 year low of $650.63 and a 1 year high of $1,057.51. The firm has a market capitalization of $153.95 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.78 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last released 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. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter last year, the firm earned $10.91 EPS. BlackRock’s quarterly revenue was up 14.9% compared to the same quarter last year. Equities analysts expect that BlackRock, Inc. will post 42.94 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BLK. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Barclays increased their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company increased their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group increased their price objective 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. Finally, Evercore ISI increased their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,004.54.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $875.03, for a total transaction of $10,500,360.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,670,194.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 35,061 shares of company stock valued at $30,734,840 in the last 90 days. 0.90% of the stock is owned by insiders.

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.