State of Alaska Department of Revenue Acquires 275 Shares of BlackRock, Inc. (NYSE:BLK)

State of Alaska Department of Revenue increased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,796 shares of the asset manager’s stock after purchasing an additional 275 shares during the period. State of Alaska Department of Revenue’s holdings in BlackRock were worth $15,947,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new position in shares of BlackRock during the 1st quarter worth about $27,000. Fairscale Capital LLC bought a new position in BlackRock during the 2nd quarter worth approximately $31,000. Chilton Capital Management LLC acquired a new position in BlackRock during the first quarter valued at approximately $38,000. MFA Wealth Advisors LLC increased its stake 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 purchasing an additional 20 shares in the last quarter. Finally, Olistico Wealth LLC bought a new position in shares of BlackRock during the second quarter worth $53,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on BLK. Barclays upped their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Argus raised their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Keefe, Bruyette & Woods increased their target price on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. UBS Group cut their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Wells Fargo & Company raised their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $995.31.

BlackRock Trading Down 1.0 %

BlackRock stock opened at $974.07 on Friday. 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 firm has a 50-day moving average of $928.50 and a 200-day moving average of $844.05. The company has a market cap of $144.75 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a one year low of $596.18 and a one year high of $1,032.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share 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 return on equity of 15.44% and a net margin of 32.36%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same period last year, the company earned $10.91 earnings per share. On average, equities analysts expect that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the sale, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,042 shares of company stock valued at $56,857,777. 0.90% of the stock is currently owned by corporate insiders.

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.