Investment Research & Advisory Group Inc. Has $5.04 Million Holdings in BlackRock, Inc. (NYSE:BLK)

by · The Markets Daily

Investment Research & Advisory Group Inc. increased its holdings in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,301 shares of the asset manager’s stock after purchasing an additional 64 shares during the quarter. BlackRock makes up about 2.1% of Investment Research & Advisory Group Inc.’s investment portfolio, making the stock its 12th biggest holding. Investment Research & Advisory Group Inc.’s holdings in BlackRock were worth $5,037,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BLK. Redmont Wealth Advisors LLC acquired a new position in shares of BlackRock during the 1st quarter worth approximately $27,000. Fairscale Capital LLC acquired a new position in BlackRock during the second quarter worth $31,000. Chilton Capital Management LLC bought a new stake in BlackRock during the first quarter worth $38,000. MFA Wealth Advisors LLC lifted its stake in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares during the last quarter. Finally, Olistico Wealth LLC bought a new position in shares of BlackRock in the 2nd quarter valued at about $53,000. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In related news, Director Pamela Daley sold 1,531 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,042 shares of company stock worth $56,857,777. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Down 0.4 %

BLK opened at $984.32 on Friday. The stock has a fifty day moving average of $924.23 and a 200-day moving average of $841.60. The company has a market capitalization of $146.27 billion, a P/E ratio of 25.01, a P/E/G ratio of 1.94 and a beta of 1.30. 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.

BlackRock (NYSE:BLK – Get Free Report) last issued 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 32.36% and a return on equity of 15.44%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the previous year, the company earned $10.91 EPS. The business’s revenue was up 14.9% on a year-over-year basis. On average, equities analysts expect that BlackRock, Inc. will post 41.73 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BLK shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Argus upped their price objective on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Wells Fargo & Company lifted their target price on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group increased their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Morgan Stanley raised their price target on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $995.31.

View Our Latest Research Report on BLK

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.

Further Reading

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