Essex Savings Bank Grows Stock Position in BlackRock, Inc. (NYSE:BLK)

Essex Savings Bank boosted its position in BlackRock, Inc. (NYSE:BLK) by 2.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,903 shares of the asset manager’s stock after buying an additional 46 shares during the quarter. Essex Savings Bank’s holdings in BlackRock were worth $1,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of BLK. Vanguard Group Inc. boosted its stake in BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after buying an additional 292,017 shares during the period. Capital Research Global Investors lifted its stake in BlackRock by 11.1% during the first 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. lifted its stake in BlackRock by 2.9% during the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after purchasing an additional 46,728 shares during the last quarter. Legal & General Group Plc lifted its stake in BlackRock by 1.9% during the second quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after purchasing an additional 22,311 shares during the last quarter. Finally, Pathway Financial Advisers LLC lifted its stake 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 purchasing an additional 1,044,962 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BLK has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their price objective on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. The Goldman Sachs Group boosted 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. Morgan Stanley boosted their price target on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. upped their target price on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, Argus boosted their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,004.54.

BlackRock Trading Up 0.3 %

Shares of BLK stock opened at $1,039.28 on Friday. BlackRock, Inc. has a 52-week low of $650.63 and a 52-week high of $1,057.51. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The firm has a market capitalization of $153.95 billion, a PE ratio of 25.65, a PEG ratio of 1.85 and a beta of 1.30. The stock has a fifty day simple moving average of $953.10 and a two-hundred day simple moving average of $860.23.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS 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 business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the prior year, the firm earned $10.91 EPS. The business’s revenue was up 14.9% on a year-over-year basis. On average, analysts predict that BlackRock, Inc. will post 42.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 11,061 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $852.95, for a total value of $9,434,479.95. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,527,116. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 35,061 shares of company stock valued at $30,734,840 over the last 90 days. Insiders own 0.90% of the company’s stock.

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.