BlackRock, Inc. (NYSE:BLK) Stock Holdings Raised by Carmel Capital Partners LLC

by · The Markets Daily

Carmel Capital Partners LLC raised its stake in BlackRock, Inc. (NYSE:BLK – Free Report) by 5.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 589 shares of the asset manager’s stock after purchasing an additional 30 shares during the period. Carmel Capital Partners LLC’s holdings in BlackRock were worth $559,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BLK. Empowered Funds LLC boosted its holdings in shares of BlackRock by 13.3% in the 1st quarter. Empowered Funds LLC now owns 4,350 shares of the asset manager’s stock valued at $3,627,000 after buying an additional 509 shares during the period. Illinois Municipal Retirement Fund boosted its stake in BlackRock by 45.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 11,746 shares of the asset manager’s stock valued at $9,793,000 after purchasing an additional 3,670 shares during the period. CarsonAllaria Wealth Management Ltd. boosted its stake in BlackRock by 26.4% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 393 shares of the asset manager’s stock valued at $328,000 after purchasing an additional 82 shares during the period. Atomi Financial Group Inc. boosted its stake in BlackRock by 32.8% during the 1st quarter. Atomi Financial Group Inc. now owns 1,007 shares of the asset manager’s stock valued at $839,000 after purchasing an additional 249 shares during the period. Finally, Nixon Peabody Trust Co. boosted its stake in BlackRock by 3.6% during the 1st quarter. Nixon Peabody Trust Co. now owns 12,282 shares of the asset manager’s stock valued at $10,240,000 after purchasing an additional 424 shares during the period. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BLK shares. StockNews.com started coverage on shares of BlackRock in a research note on Tuesday. They issued a “hold” rating for the company. The Goldman Sachs Group boosted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley boosted their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, Evercore ISI boosted their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $1,004.54.

Read Our Latest Analysis on BlackRock

Insider Buying and Selling

In related news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $875.03, for a total transaction of $10,500,360.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,670,194.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 35,061 shares of company stock valued at $30,734,840. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

BLK stock opened at $1,039.28 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. The company has a market capitalization of $153.95 billion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 1.78 and a beta of 1.30. BlackRock, Inc. has a 12 month low of $650.63 and a 12 month high of $1,057.51. The firm has a 50 day moving average of $953.10 and a two-hundred day moving average of $860.23.

BlackRock (NYSE:BLK – Get Free Report) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. The business 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 quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.91 EPS. As a group, equities analysts anticipate that BlackRock, Inc. will post 42.94 EPS for the current fiscal year.

About BlackRock

(Free Report)

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.

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