Moors & Cabot Inc. Increases Stake in BlackRock, Inc. (NYSE:BLK)

Moors & Cabot Inc. grew its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,360 shares of the asset manager’s stock after acquiring an additional 179 shares during the period. Moors & Cabot Inc.’s holdings in BlackRock were worth $8,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of BLK. Portfolio Design Labs LLC boosted its position in shares of BlackRock by 314.7% during the third quarter. Portfolio Design Labs LLC now owns 2,430 shares of the asset manager’s stock worth $2,307,000 after acquiring an additional 1,844 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of BlackRock by 6.7% in the third quarter. Advisors Asset Management Inc. now owns 13,862 shares of the asset manager’s stock worth $13,162,000 after purchasing an additional 870 shares during the last quarter. Kirtland Hills Capital Management LLC lifted its position in shares of BlackRock by 4.3% in the third quarter. Kirtland Hills Capital Management LLC now owns 2,743 shares of the asset manager’s stock worth $2,605,000 after buying an additional 113 shares in the last quarter. Strategy Asset Managers LLC boosted its stake in BlackRock by 3.1% during the third quarter. Strategy Asset Managers LLC now owns 629 shares of the asset manager’s stock valued at $597,000 after buying an additional 19 shares during the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in BlackRock during the 3rd quarter valued at approximately $216,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The shares were 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 of the company’s stock, valued at $5,832,000. The trade was a 64.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on BLK shares. StockNews.com began coverage on BlackRock in a research report on Wednesday, November 13th. They set a “hold” rating for the company. Barclays lifted their target price 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 upped their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. TD Cowen lifted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Stock Performance

BlackRock stock traded down $1.97 during mid-day trading on Wednesday, reaching $1,026.14. 50,807 shares of the company traded hands, compared to its average volume of 572,824. BlackRock, Inc. has a fifty-two week low of $718.72 and a fifty-two week high of $1,068.34. The firm’s fifty day moving average is $975.38 and its two-hundred day moving average is $875.55. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The company has a market capitalization of $158.93 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 1.87 and a beta of 1.30.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same quarter last year, the business posted $10.91 EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. On average, equities research analysts expect that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal 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.