BlackRock, Inc. (NYSE:BLK) Shares Purchased by Rather & Kittrell Inc.

Rather & Kittrell Inc. boosted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 35.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 409 shares of the asset manager’s stock after acquiring an additional 106 shares during the period. Rather & Kittrell Inc.’s holdings in BlackRock were worth $388,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its position in BlackRock by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after purchasing an additional 292,017 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of BlackRock by 11.1% during the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after purchasing an additional 435,358 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of BlackRock by 2.9% in the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after buying an additional 46,728 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of BlackRock by 1.9% during the second quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after buying an additional 22,311 shares during the period. Finally, Pathway Financial Advisers LLC boosted its position in BlackRock by 89,389.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after acquiring an additional 1,044,962 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity

In related news, Director Mark Wiedman sold 12,000 shares of the firm’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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 35,061 shares of company stock worth $30,734,840 over the last 90 days. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BLK. StockNews.com started coverage on BlackRock in a research note on Tuesday. They set a “hold” rating on the stock. Barclays increased their target price on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Citigroup lifted their price target on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. TD Cowen increased their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company upped their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,004.54.

BlackRock Stock Up 0.3 %

Shares of BlackRock stock opened at $1,039.28 on Friday. The company has a fifty day moving average price of $953.10 and a 200 day moving average price of $860.23. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a twelve month low of $650.63 and a twelve month high of $1,057.51. The stock has a market cap of $153.95 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 1.78 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 (EPS) for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion during 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 company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter last year, the firm earned $10.91 earnings per share. Equities research analysts forecast that BlackRock, Inc. will post 42.94 earnings per share for the current fiscal year.

BlackRock 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.