Fifth Third Wealth Advisors LLC Grows Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Fifth Third Wealth Advisors LLC boosted its holdings in BlackRock, Inc. (NYSE:BLK) by 20.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,338 shares of the asset manager’s stock after purchasing an additional 565 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in BlackRock were worth $3,169,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Fairscale Capital LLC acquired a new stake in shares of BlackRock during the 2nd quarter worth about $31,000. Reston Wealth Management LLC acquired a new stake in BlackRock during the third quarter worth approximately $37,000. MFA Wealth Advisors LLC lifted its position 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 worth $38,000 after buying an additional 20 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of BlackRock by 81.5% in the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after buying an additional 22 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new position in shares of BlackRock in the 2nd quarter valued at $53,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BLK. Barclays upped their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. The Goldman Sachs Group raised their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Evercore ISI boosted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com began coverage on shares of BlackRock in a research report on Wednesday, November 13th. They set a “hold” rating on the stock. Finally, TD Cowen upped their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.62.

BlackRock Stock Up 0.2 %

Shares of NYSE:BLK opened at $1,049.97 on Tuesday. BlackRock, Inc. has a fifty-two week low of $712.11 and a fifty-two week high of $1,068.34. 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 firm’s 50-day simple moving average is $972.48 and its 200-day simple moving average is $873.69. The company has a market cap of $162.62 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 1.87 and a beta of 1.30.

BlackRock (NYSE:BLK) last announced its quarterly earnings data 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 company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.91 EPS. As a group, equities research analysts predict that BlackRock, Inc. will post 43.17 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is currently owned by corporate insiders.

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.