Patrick M Sweeney & Associates Inc. Acquires Shares of 291 BlackRock, Inc. (NYSE:BLK)

by · The Cerbat Gem

Patrick M Sweeney & Associates Inc. bought a new position in shares of BlackRock, Inc. (NYSE:BLK – Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 291 shares of the asset manager’s stock, valued at approximately $276,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after buying an additional 292,017 shares during the period. Capital Research Global Investors raised its stake in shares of BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after acquiring an additional 435,358 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of BlackRock by 2.9% in the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after purchasing an additional 46,728 shares during the period. Legal & General Group Plc grew its stake in BlackRock by 1.9% in the second quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after purchasing an additional 22,311 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in BlackRock by 104,468.9% during the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after purchasing an additional 791,874 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Price Performance

Shares of NYSE BLK opened at $988.16 on Thursday. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $1,032.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company has a market cap of $146.84 billion, a PE ratio of 25.11, a P/E/G ratio of 1.94 and a beta of 1.30. The business has a 50-day simple moving average of $924.23 and a two-hundred day simple moving average of $841.60.

BlackRock (NYSE:BLK – Get Free Report) last released its earnings results 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 for the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. BlackRock’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.91 EPS. As a group, equities analysts expect that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now owns 6,480 shares in the company, valued at $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 value of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,042 shares of company stock valued at $56,857,777 in the last ninety days. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Argus upped their target price on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. 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 report on Wednesday, October 9th. TD Cowen boosted their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Evercore ISI increased their price objective on shares of BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group boosted their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $995.31.

View Our Latest Stock Report on BlackRock

BlackRock Profile

(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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