Alterna Wealth Management Inc. purchased a new position in BlackRock, Inc. (NYSE:BLK – Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 254 shares of the asset manager’s stock, valued at approximately $241,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its position in BlackRock by 89,389.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after purchasing an additional 1,044,962 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of BlackRock by 104,468.9% during the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after buying an additional 791,874 shares during the last quarter. Capital Research Global Investors raised its position in shares of BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after buying an additional 435,358 shares during the period. Vanguard Group Inc. boosted its holdings in BlackRock by 2.3% in the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after acquiring an additional 292,017 shares during the last quarter. Finally, M&G Plc purchased a new stake in BlackRock during the first quarter valued at about $161,918,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. StockNews.com assumed coverage on shares of BlackRock in a research report on Tuesday. They set a “hold” rating on the stock. 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 research report on Monday, October 14th. Morgan Stanley lifted their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, UBS Group cut their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $995.31.
Insider Transactions at BlackRock
In related news, Director Mark Wiedman sold 11,061 shares of the company’s 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 sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,527,116. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 35,061 shares of company stock worth $30,734,840. 0.90% of the stock is currently owned by corporate insiders.
BlackRock Stock Performance
BlackRock stock opened at $991.50 on Tuesday. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average of $942.16 and a 200-day moving average of $853.97. The stock has a market cap of $146.87 billion, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 1.76 and a beta of 1.30. BlackRock, Inc. has a 52 week low of $646.91 and a 52 week high of $1,032.00.
BlackRock (NYSE:BLK – Get Free Report) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.91 EPS. On average, analysts expect that BlackRock, Inc. will post 42.94 EPS for the current fiscal year.
About BlackRock
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.
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