365 Shares in BlackRock, Inc. (NYSE:BLK) Bought by Advisor Resource Council

Advisor Resource Council acquired a new position in BlackRock, Inc. (NYSE:BLK) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 365 shares of the asset manager’s stock, valued at approximately $347,000.

Other hedge funds have also modified their holdings of the company. Fairscale Capital LLC purchased a new stake in shares of BlackRock during the second quarter worth about $31,000. Reston Wealth Management LLC acquired a new position in shares of BlackRock during the 3rd quarter valued at about $37,000. MFA Wealth Advisors LLC grew its stake in shares of BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares during the period. Chilton Capital Management LLC purchased a new position in BlackRock in the first quarter worth approximately $38,000. Finally, City Holding Co. acquired a new stake in shares of BlackRock during the 3rd quarter worth about $55,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 11,061 shares of the business’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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 35,061 shares of company stock valued at $30,734,840 in the last three months. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BLK has been the topic of a number of recent analyst reports. Morgan Stanley upped their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Evercore ISI upped their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday. Keefe, Bruyette & Woods lifted their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Barclays upped their price target on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. lifted their price objective on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,004.54.

BlackRock Price Performance

BLK stock opened at $1,036.38 on Friday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a fifty-two week low of $648.43 and a fifty-two week high of $1,057.51. The business has a 50 day moving average price of $947.54 and a 200 day moving average price of $857.04. The stock has a market cap of $153.52 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 1.78 and a beta of 1.30.

BlackRock (NYSE:BLK) last announced 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 analysts’ expectations of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. BlackRock’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the company earned $10.91 earnings per share. Equities research analysts anticipate that BlackRock, Inc. will post 42.94 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.