D.B. Root & Company LLC Grows Stock Position in BlackRock, Inc. (NYSE:BLK)

D.B. Root & Company LLC raised its position in BlackRock, Inc. (NYSE:BLK) by 16.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 548 shares of the asset manager’s stock after purchasing an additional 76 shares during the period. D.B. Root & Company LLC’s holdings in BlackRock were worth $520,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 292,017 shares in the last quarter. Capital Research Global Investors lifted its holdings in BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in BlackRock by 2.9% in the 2nd 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 in the last quarter. Legal & General Group Plc lifted its holdings in BlackRock by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after purchasing an additional 22,311 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its holdings in BlackRock by 89,389.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after purchasing an additional 1,044,962 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Citigroup increased their price objective on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Barclays increased their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. TD Cowen increased their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, 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. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $995.31.

BlackRock Stock Up 1.5 %

Shares of NYSE:BLK opened at $1,029.82 on Thursday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 52-week low of $646.91 and a 52-week high of $1,057.51. The company has a 50 day moving average of $947.54 and a two-hundred day moving average of $857.04. The company has a market capitalization of $152.55 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 1.77 and a beta of 1.30.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter last year, the company earned $10.91 earnings per share. BlackRock’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, analysts forecast that BlackRock, Inc. will post 42.94 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 11,061 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,527,116. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 35,061 shares of company stock valued at $30,734,840 over the last 90 days. 0.90% of the stock is owned by corporate insiders.

BlackRock Company Profile

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.