Princeton Capital Management LLC Invests $201,000 in BlackRock, Inc. (NYSE:BLK)

Princeton Capital Management LLC acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 212 shares of the asset manager’s stock, valued at approximately $201,000.

Other institutional investors also recently bought and sold shares of the company. Fairscale Capital LLC bought a new position in shares of BlackRock in the 2nd quarter worth approximately $31,000. Reston Wealth Management LLC purchased a new position in shares of BlackRock during the 3rd quarter worth $37,000. MFA Wealth Advisors LLC grew its position in shares of BlackRock by 100.0% during the 3rd 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 period. Addison Advisors LLC grew its holdings in BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 22 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in shares of BlackRock during the 3rd quarter valued at approximately $54,000. Institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is owned by insiders.

BlackRock Price Performance

NYSE BLK opened at $1,049.97 on Tuesday. The firm’s fifty day simple moving average is $972.48 and its two-hundred day simple moving average is $873.69. The firm has a market capitalization of $162.62 billion, a P/E ratio of 25.91, a P/E/G ratio of 1.87 and a beta of 1.30. 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, Inc. has a 12-month low of $712.11 and a 12-month high of $1,068.34.

BlackRock (NYSE:BLK) last announced its earnings results 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. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the company posted $10.91 EPS. Analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BLK. The Goldman Sachs Group upped their target price 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. Barclays lifted their price target on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Evercore ISI boosted their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Morgan Stanley increased their price target on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,019.62.

BlackRock 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.