Claro Advisors LLC Grows Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Claro Advisors LLC boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 9.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,820 shares of the asset manager’s stock after acquiring an additional 151 shares during the quarter. Claro Advisors LLC’s holdings in BlackRock were worth $1,728,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fairscale Capital LLC purchased a new position in BlackRock in the 2nd quarter valued at approximately $31,000. Reston Wealth Management LLC acquired a new stake in BlackRock in the 3rd quarter valued at about $37,000. MFA Wealth Advisors LLC raised its holdings in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares in the last quarter. Addison Advisors LLC lifted its stake in BlackRock by 81.5% in 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 last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of BlackRock in the 3rd quarter valued at approximately $54,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,047.37 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The company has a market cap of $162.22 billion, a PE ratio of 25.85, a P/E/G ratio of 1.87 and a beta of 1.30. The stock has a fifty day moving average price of $969.04 and a 200 day moving average price of $870.78. BlackRock, Inc. has a 1-year low of $708.75 and a 1-year high of $1,068.34.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating the consensus estimate of $10.42 by $1.04. The business had revenue of $5.20 billion for 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 business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.91 earnings per share. Sell-side analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current year.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on 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 transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BLK has been the topic of a number of analyst reports. Evercore ISI raised their price target on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Barclays raised their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group increased their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company boosted their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their price objective on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.