BlackRock, Inc. (NYSE:BLK) Shares Purchased by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 6.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 474 shares of the asset manager’s stock after acquiring an additional 29 shares during the quarter. Baker Avenue Asset Management LP’s holdings in BlackRock were worth $450,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BLK. Fairscale Capital LLC acquired a new stake in BlackRock during the 2nd quarter worth approximately $31,000. Reston Wealth Management LLC acquired a new stake in shares of BlackRock during the third quarter worth approximately $37,000. MFA Wealth Advisors LLC grew its position in shares of BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after buying an additional 20 shares in the last quarter. Olistico Wealth LLC acquired a new position in BlackRock in the second quarter worth $53,000. Finally, ORG Partners LLC boosted its holdings in BlackRock by 257.9% in the second quarter. ORG Partners LLC now owns 68 shares of the asset manager’s stock worth $54,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. StockNews.com started coverage on BlackRock in a report on Tuesday, November 5th. They set a “hold” rating on the stock. The Goldman Sachs Group lifted their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Keefe, Bruyette & Woods lifted their price target on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Finally, Argus lifted their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Stock Up 1.4 %

BLK opened at $1,053.84 on Tuesday. The business has a 50 day moving average price of $953.10 and a 200 day moving average price of $861.57. BlackRock, Inc. has a twelve month low of $658.14 and a twelve month high of $1,068.34. 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 firm has a market cap of $156.11 billion, a P/E ratio of 26.01, a price-to-earnings-growth ratio of 1.86 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted 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. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period in the previous year, the company earned $10.91 EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. Research analysts forecast that BlackRock, Inc. will post 43.16 EPS for the current year.

Insider Buying and Selling

In other 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 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 $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

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.