Jaffetilchin Investment Partners LLC Decreases Position in BlackRock, Inc. (NYSE:BLK)

Jaffetilchin Investment Partners LLC lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,069 shares of the asset manager’s stock after selling 13 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in BlackRock were worth $1,015,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of BLK. Weil Company Inc. lifted its stake in shares of BlackRock by 59.8% in the 3rd quarter. Weil Company Inc. now owns 636 shares of the asset manager’s stock worth $604,000 after acquiring an additional 238 shares during the period. Addison Advisors LLC increased its position in BlackRock by 81.5% during the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after purchasing an additional 22 shares during the period. Peregrine Asset Advisers Inc. purchased a new position in shares of BlackRock during the 3rd quarter worth approximately $212,000. Ashton Thomas Securities LLC acquired a new stake in shares of BlackRock in the 3rd quarter valued at approximately $235,000. Finally, Baker Avenue Asset Management LP boosted its stake in shares of BlackRock by 6.5% in the third quarter. Baker Avenue Asset Management LP now owns 474 shares of the asset manager’s stock valued at $450,000 after buying an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Up 1.4 %

Shares of NYSE BLK opened at $1,053.84 on Tuesday. The firm’s 50 day moving average price is $953.10 and its 200 day moving average price is $861.57. 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 cap of $156.11 billion, a P/E ratio of 26.01, a price-to-earnings-growth ratio of 1.86 and a beta of 1.30. BlackRock, Inc. has a 1 year low of $658.14 and a 1 year high of $1,068.34.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The firm 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 quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the company earned $10.91 EPS. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 43.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Argus raised their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Wells Fargo & Company raised their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods increased their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. The Goldman Sachs Group upped their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, TD Cowen lifted their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,019.62.

Insider Activity

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.