Lansing Street Advisors Takes $224,000 Position in BlackRock, Inc. (NYSE:BLK)

Lansing Street Advisors acquired a new stake in BlackRock, Inc. (NYSE:BLK) during the third quarter, according to its most recent filing with the SEC. The firm acquired 236 shares of the asset manager’s stock, valued at approximately $224,000.

A number of other large investors also recently bought and sold shares of the company. Fairscale Capital LLC purchased a new stake in BlackRock in the 2nd quarter valued at approximately $31,000. Reston Wealth Management LLC acquired a new position in BlackRock during the third quarter worth $37,000. Chilton Capital Management LLC purchased a new position in BlackRock in the first quarter worth $38,000. MFA Wealth Advisors LLC lifted its holdings in BlackRock by 100.0% in the third 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. Finally, Olistico Wealth LLC acquired a new position in shares of BlackRock during the 2nd quarter worth $53,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BLK shares. Wells Fargo & Company upped their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Morgan Stanley lifted their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Keefe, Bruyette & Woods raised their price target on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Barclays raised their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Citigroup increased their price target on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $995.31.

Insider Activity

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the transaction, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,511 shares of company stock worth $55,568,552. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Stock Performance

NYSE BLK opened at $985.08 on Monday. The business’s 50-day moving average price is $940.00 and its 200 day moving average price is $852.25. 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 twelve month low of $623.77 and a twelve month high of $1,032.00. The company has a market capitalization of $145.92 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 1.76 and a beta of 1.30.

BlackRock (NYSE:BLK) last released 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 firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. BlackRock’s revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.91 earnings per share. On average, research analysts predict that BlackRock, Inc. will post 42.94 earnings per share for the current year.

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.