Shepherd Financial Partners LLC Increases Stock Position in BlackRock, Inc. (NYSE:BLK)

Shepherd Financial Partners LLC boosted its stake in BlackRock, Inc. (NYSE:BLK) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,766 shares of the asset manager’s stock after acquiring an additional 102 shares during the period. Shepherd Financial Partners LLC’s holdings in BlackRock were worth $4,525,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Marino Stram & Associates LLC grew its stake in BlackRock by 0.3% in the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after purchasing an additional 10 shares during the period. Onyx Bridge Wealth Group LLC grew its stake in BlackRock by 3.5% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after purchasing an additional 11 shares during the period. Ballentine Partners LLC grew its stake in BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after purchasing an additional 11 shares during the period. XML Financial LLC grew its stake in BlackRock by 2.6% in the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock valued at $372,000 after purchasing an additional 12 shares during the period. Finally, Pine Haven Investment Counsel Inc grew its stake in shares of BlackRock by 1.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 937 shares of the asset manager’s stock worth $890,000 after acquiring an additional 12 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 11,061 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $852.95, for a total value of $9,434,479.95. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,527,116. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mark Wiedman sold 11,061 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $852.95, for a total value of $9,434,479.95. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,527,116. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,511 shares of company stock valued at $55,568,552 over the last 90 days. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

Shares of BLK traded up $5.03 during trading hours on Friday, hitting $986.06. The stock had a trading volume of 205,529 shares, compared to its average volume of 568,922. The stock has a fifty day moving average price of $937.94 and a 200 day moving average price of $849.30. BlackRock, Inc. has a 12 month low of $623.77 and a 12 month high of $1,032.00. 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 market capitalization of $146.07 billion, a PE ratio of 24.20, a PEG ratio of 1.76 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the previous year, the company posted $10.91 earnings per share. BlackRock’s revenue for the quarter was up 14.9% on a year-over-year basis. Analysts anticipate that BlackRock, Inc. will post 42.94 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. StockNews.com began coverage on BlackRock in a report on Monday. They set a “hold” rating on the stock. Evercore ISI increased their price objective on BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Keefe, Bruyette & Woods increased their price objective on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Finally, TD Cowen raised their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $995.31.

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.