Aptus Capital Advisors LLC Increases Stock Position in BlackRock, Inc. (NYSE:BLK)

Aptus Capital Advisors LLC grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 20.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,333 shares of the asset manager’s stock after acquiring an additional 3,675 shares during the period. Aptus Capital Advisors LLC’s holdings in BlackRock were worth $20,256,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Fairscale Capital LLC acquired a new position in BlackRock in the 2nd quarter valued at $31,000. Reston Wealth Management LLC acquired a new stake in shares of BlackRock in the 3rd quarter valued at about $37,000. MFA Wealth Advisors LLC raised its stake in shares of BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares in the last quarter. Addison Advisors LLC raised its stake in BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after acquiring an additional 22 shares during the period. Finally, Olistico Wealth LLC acquired a new stake in BlackRock during the second quarter worth about $53,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Price Performance

BLK traded up $3.13 during trading on Tuesday, hitting $1,056.97. 103,311 shares of the stock traded hands, compared to its average volume of 571,552. 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 twelve month low of $658.14 and a twelve month high of $1,068.34. The company has a market cap of $156.57 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.86 and a beta of 1.30. The business has a 50 day moving average price of $956.14 and a 200 day moving average price of $863.66.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business earned $10.91 earnings per share. Equities research analysts forecast that BlackRock, Inc. will post 43.16 earnings per share for the current fiscal year.

Insider Activity

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on BLK. Evercore ISI increased their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. TD Cowen boosted their target price on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Barclays boosted their price target on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, 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 research note on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Company 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.