Claro Advisors LLC Grows Holdings in BlackRock, Inc. (NYSE:BLK)

Claro Advisors LLC increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 9.0% during the third quarter, Holdings Channel reports. The fund owned 1,820 shares of the asset manager’s stock after acquiring an additional 151 shares during the quarter. Claro Advisors LLC’s holdings in BlackRock were worth $1,728,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fairscale Capital LLC acquired a new stake in shares of BlackRock during the second quarter worth $31,000. Reston Wealth Management LLC acquired a new position in shares of BlackRock during the 3rd quarter valued at about $37,000. MFA Wealth Advisors LLC lifted its holdings in shares of BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after acquiring an additional 20 shares during the period. Addison Advisors LLC boosted its position in shares of BlackRock by 81.5% in the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after acquiring an additional 22 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in BlackRock in the third quarter valued at approximately $54,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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. StockNews.com began coverage on BlackRock in a research report on Wednesday. They issued a “hold” rating on the stock. Wells Fargo & Company boosted their price target on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Evercore ISI raised their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Morgan Stanley boosted their target price on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,019.62.

BlackRock Trading Up 0.0 %

NYSE BLK opened at $1,047.37 on Friday. The stock has a market cap of $162.22 billion, a P/E ratio of 25.85, a PEG ratio of 1.87 and a beta of 1.30. The company’s fifty day simple moving average is $969.04 and its 200-day simple moving average is $870.78. 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, Inc. has a 52 week low of $708.75 and a 52 week high of $1,068.34.

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

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. This represents a 64.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.