Independent Investors Inc. Takes Position in BlackRock, Inc. (NYSE:BLK)

by · The Markets Daily

Independent Investors Inc. bought a new stake in BlackRock, Inc. (NYSE:BLK – Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 225 shares of the asset manager’s stock, valued at approximately $214,000.

Several other hedge funds also recently added to or reduced their stakes in BLK. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of BlackRock by 2.5% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,179 shares of the asset manager’s stock valued at $1,120,000 after buying an additional 29 shares in the last quarter. Concord Wealth Partners increased its stake in shares of BlackRock by 3.0% during the 3rd quarter. Concord Wealth Partners now owns 657 shares of the asset manager’s stock worth $624,000 after purchasing an additional 19 shares in the last quarter. Asahi Life Asset Management CO. LTD. purchased a new position in shares of BlackRock during the third quarter valued at approximately $332,000. Welch Group LLC grew its holdings in BlackRock by 15.0% in the third quarter. Welch Group LLC now owns 750 shares of the asset manager’s stock valued at $712,000 after purchasing an additional 98 shares during the period. Finally, J.W. Cole Advisors Inc. grew its stake in BlackRock by 7.2% during the third quarter. J.W. Cole Advisors Inc. now owns 985 shares of the asset manager’s stock worth $935,000 after buying an additional 66 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were 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 owns 6,480 shares in the company, valued at $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,042 shares of company stock valued at $56,857,777 in the last 90 days. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Up 1.2 %

BlackRock stock traded up $11.34 during mid-day trading on Monday, hitting $985.41. The company had a trading volume of 121,500 shares, compared to its average volume of 571,598. BlackRock, Inc. has a 12 month low of $600.26 and a 12 month high of $1,032.00. The company has a market capitalization of $146.43 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The stock’s 50 day moving average price is $928.50 and its two-hundred day moving average price is $844.48. 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 – Get Free Report) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the business earned $10.91 EPS. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on BLK. The Goldman Sachs Group boosted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. TD Cowen raised their price objective 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. Keefe, Bruyette & Woods upped their target price on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. UBS Group reduced their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $995.31.

View Our Latest Stock Analysis on BlackRock

About BlackRock

(Free Report)

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.

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