Klingman & Associates LLC Takes Position in BlackRock, Inc. (NYSE:BLK)

Klingman & Associates LLC acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 488 shares of the asset manager’s stock, valued at approximately $463,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Empowered Funds LLC increased its stake in BlackRock by 13.3% during the first quarter. Empowered Funds LLC now owns 4,350 shares of the asset manager’s stock worth $3,627,000 after acquiring an additional 509 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in BlackRock by 45.4% in the first quarter. Illinois Municipal Retirement Fund now owns 11,746 shares of the asset manager’s stock valued at $9,793,000 after buying an additional 3,670 shares during the last quarter. CarsonAllaria Wealth Management Ltd. boosted its stake in BlackRock by 26.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 393 shares of the asset manager’s stock worth $328,000 after buying an additional 82 shares during the period. Atomi Financial Group Inc. raised its stake in shares of BlackRock by 32.8% in the 1st quarter. Atomi Financial Group Inc. now owns 1,007 shares of the asset manager’s stock valued at $839,000 after acquiring an additional 249 shares during the period. Finally, Nixon Peabody Trust Co. lifted its holdings in shares of BlackRock by 3.6% in the 1st quarter. Nixon Peabody Trust Co. now owns 12,282 shares of the asset manager’s stock worth $10,240,000 after acquiring an additional 424 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 11,061 shares of BlackRock stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $852.95, for a total value of $9,434,479.95. Following the sale, the director now directly owns 6,480 shares in the company, valued at $5,527,116. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 35,061 shares of company stock valued at $30,734,840. Corporate insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.3 %

Shares of BLK stock opened at $1,039.28 on Friday. The business’s 50 day moving average is $953.10 and its two-hundred day moving average is $860.23. BlackRock, Inc. has a twelve month low of $650.63 and a twelve month high of $1,057.51. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $153.95 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 1.78 and a beta of 1.30.

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 business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business posted $10.91 earnings per share. Equities analysts forecast that BlackRock, Inc. will post 42.94 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Wells Fargo & Company boosted their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Evercore ISI raised their target price on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday. Argus increased their price target on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, TD Cowen lifted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,004.54.

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.