Kirtland Hills Capital Management LLC Acquires 113 Shares of BlackRock, Inc. (NYSE:BLK)

Kirtland Hills Capital Management LLC raised its stake in shares of BlackRock, Inc. (NYSE:BLK) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,743 shares of the asset manager’s stock after buying an additional 113 shares during the quarter. BlackRock comprises about 1.2% of Kirtland Hills Capital Management LLC’s investment portfolio, making the stock its 11th biggest holding. Kirtland Hills Capital Management LLC’s holdings in BlackRock were worth $2,605,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in BLK. Bessemer Group Inc. lifted its holdings in shares of BlackRock by 19.1% in the first quarter. Bessemer Group Inc. now owns 2,677 shares of the asset manager’s stock worth $2,232,000 after buying an additional 429 shares in the last quarter. Natixis purchased a new stake in shares of BlackRock during the first quarter valued at $390,000. Crewe Advisors LLC purchased a new position in shares of BlackRock during the first quarter worth approximately $186,000. CreativeOne Wealth LLC bought a new stake in BlackRock during the 1st quarter valued at $759,000. Finally, Axxcess Wealth Management LLC grew its holdings in BlackRock by 35.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after acquiring an additional 1,248 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BLK shares. TD Cowen lifted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Morgan Stanley lifted their price target on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their target price on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group increased their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Stock Performance

Shares of BLK stock opened at $1,028.38 on Wednesday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market cap of $159.27 billion, a P/E ratio of 25.38, a PEG ratio of 1.87 and a beta of 1.30. BlackRock, Inc. has a 52 week low of $712.11 and a 52 week high of $1,068.34. The business has a 50 day moving average of $975.38 and a two-hundred day moving average of $875.55.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 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 for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter last year, the business earned $10.91 earnings per share. BlackRock’s revenue was up 14.9% compared to the same quarter last year. As a group, analysts anticipate that BlackRock, Inc. will post 43.17 EPS for the current year.

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.