Groesbeck Investment Management Corp NJ lifted its stake in BlackRock, Inc. (NYSE:BLK) by 11.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,507 shares of the asset manager’s stock after purchasing an additional 157 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in BlackRock were worth $672,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Virtus ETF Advisers LLC bought a new position in shares of BlackRock in the 2nd quarter worth $27,000. Garrett Wealth Advisory Group LLC bought a new position in shares of BlackRock in the 3rd quarter worth $30,000. Massey Quick Simon & CO. LLC bought a new position in shares of BlackRock in the 2nd quarter worth $31,000. MRA Associates USA LLC bought a new position in shares of BlackRock in the 2nd quarter worth $33,000. Finally, SRS Capital Advisors Inc. bought a new position in shares of BlackRock in the 2nd quarter worth $33,000. Institutional investors and hedge funds own 81.96% of the company’s stock.
In other BlackRock news, CEO Laurence Fink sold 100 shares of BlackRock stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $457.02, for a total value of $45,702.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director J. Richard Kushel sold 2,000 shares of BlackRock stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $446.74, for a total value of $893,480.00. The disclosure for this sale can be found here. Company insiders own 1.42% of the company’s stock.
Several research analysts have recently issued reports on BLK shares. Morgan Stanley raised their price target on BlackRock from $547.00 to $554.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Credit Suisse Group set a $567.00 target price on BlackRock and gave the stock a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. reduced their target price on BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Barclays reiterated a “buy” rating and set a $485.00 target price on shares of BlackRock in a report on Wednesday, October 9th. Finally, BMO Capital Markets began coverage on BlackRock in a report on Monday, October 7th. They set a “market perform” rating and a $547.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $507.10.
BLK stock traded down $3.42 during midday trading on Monday, hitting $486.79. 413,836 shares of the company’s stock were exchanged, compared to its average volume of 570,386. The stock’s fifty day moving average price is $448.65 and its 200-day moving average price is $449.03. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.92 and a current ratio of 2.92. The company has a market cap of $74.57 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 1.67 and a beta of 1.54. BlackRock, Inc. has a one year low of $360.79 and a one year high of $495.39.
BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, October 15th. The asset manager reported $7.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $6.95 by $0.20. BlackRock had a return on equity of 13.00% and a net margin of 29.31%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the previous year, the company posted $7.52 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts expect that BlackRock, Inc. will post 27.55 EPS for the current 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.
Further Reading: What is Put Option Volume?
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).
Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.