Lowe Brockenbrough & Co. Inc. Acquires 36 Shares of BlackRock, Inc. (NYSE:BLK)

Lowe Brockenbrough & Co. Inc. increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,220 shares of the asset manager’s stock after purchasing an additional 36 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in BlackRock were worth $3,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Fairscale Capital LLC purchased a new stake in shares of BlackRock during the 2nd quarter valued at about $31,000. Reston Wealth Management LLC bought a new stake in BlackRock in the 3rd quarter worth approximately $37,000. Chilton Capital Management LLC purchased a new stake in BlackRock during the 1st quarter valued at $38,000. MFA Wealth Advisors LLC lifted its holdings 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 buying an additional 20 shares during the period. Finally, Olistico Wealth LLC bought a new stake in shares of BlackRock in the second quarter worth $53,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the sale, the chief executive officer now owns 353,718 shares in the company, valued at approximately $298,272,703.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,511 shares of company stock worth $55,568,552. Corporate insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.5 %

BLK stock opened at $985.71 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a 1-year low of $623.77 and a 1-year high of $1,032.00. The business has a 50 day simple moving average of $940.00 and a two-hundred day simple moving average of $850.84. The company has a market capitalization of $146.01 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.76 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period last year, the company posted $10.91 earnings per share. BlackRock’s quarterly revenue was up 14.9% on a year-over-year basis. Research analysts anticipate that BlackRock, Inc. will post 42.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on BLK shares. StockNews.com assumed coverage on BlackRock in a research report on Monday, October 28th. They issued a “hold” rating on the stock. Argus boosted their target price on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Citigroup lifted their price target on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. upped their price objective on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Finally, The Goldman Sachs Group lifted their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $995.31.

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.