Equitable Trust Co. Purchases 39 Shares of BlackRock, Inc. (NYSE:BLK)

Equitable Trust Co. raised its position in BlackRock, Inc. (NYSE:BLK) by 1.3% during the third quarter, Holdings Channel reports. The fund owned 2,950 shares of the asset manager’s stock after acquiring an additional 39 shares during the period. Equitable Trust Co.’s holdings in BlackRock were worth $2,801,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of BLK. Fairscale Capital LLC bought a new position in BlackRock in the 2nd quarter worth $31,000. Reston Wealth Management LLC bought a new position in shares of BlackRock in the third quarter worth about $37,000. Chilton Capital Management LLC purchased a new position in shares of BlackRock during the 1st quarter valued at about $38,000. MFA Wealth Advisors LLC grew its stake in shares of BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares during the period. Finally, Olistico Wealth LLC purchased a new stake in BlackRock in the 2nd quarter worth approximately $53,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Trading Up 0.3 %

BLK stock opened at $1,039.28 on Friday. The firm has a fifty day moving average price of $953.10 and a 200 day moving average price of $860.23. BlackRock, Inc. has a fifty-two week low of $650.63 and a fifty-two week high of $1,057.51. The firm has a market cap of $153.95 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.85 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The business 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%. The business’s revenue was up 14.9% on a year-over-year basis. During the same period last year, the company posted $10.91 EPS. Sell-side analysts anticipate that BlackRock, Inc. will post 42.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BLK. Morgan Stanley lifted their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Evercore ISI upped 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. The Goldman Sachs Group raised their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company increased their target price on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, Barclays boosted their price target on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,004.54.

Insider Buying and Selling at BlackRock

In other 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 transaction of $9,434,479.95. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,527,116. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 35,061 shares of company stock worth $30,734,840 over the last ninety days. Company insiders own 0.90% of the company’s stock.

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.