United Bank Has $1.06 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

United Bank lifted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,121 shares of the asset manager’s stock after purchasing an additional 12 shares during the period. United Bank’s holdings in BlackRock were worth $1,064,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fairscale Capital LLC acquired a new position in BlackRock during the second quarter valued at $31,000. Reston Wealth Management LLC acquired a new position in BlackRock in the 3rd quarter worth about $37,000. Chilton Capital Management LLC acquired a new position in BlackRock in the 1st quarter worth about $38,000. MFA Wealth Advisors LLC increased its position in BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after purchasing an additional 20 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new position in BlackRock in the 2nd quarter worth about $53,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Stock Performance

Shares of NYSE:BLK opened at $1,039.28 on Friday. The business’s fifty day moving average price is $953.10 and its two-hundred day moving average price is $860.23. BlackRock, Inc. has a fifty-two week low of $650.63 and a fifty-two week high of $1,057.51. The stock has a market capitalization 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. 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 (NYSE:BLK) last announced its quarterly earnings results 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. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the prior year, the business posted $10.91 earnings per share. The business’s revenue was up 14.9% compared to the same quarter last year. As a group, analysts predict that BlackRock, Inc. will post 42.94 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. TD Cowen upped their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Argus upped their target price on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Barclays upped their price target on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley upped 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. Finally, Citigroup upped 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. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,004.54.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $875.03, for a total value of $10,500,360.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,670,194.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 35,061 shares of company stock valued at $30,734,840. 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.