Archer Investment Corp Purchases 21 Shares of BlackRock, Inc. (NYSE:BLK)

Archer Investment Corp increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 50.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63 shares of the asset manager’s stock after acquiring an additional 21 shares during the quarter. Archer Investment Corp’s holdings in BlackRock were worth $60,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BLK. Empowered Funds LLC raised its position in shares of BlackRock by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 2,713 shares of the asset manager’s stock valued at $2,576,000 after purchasing an additional 228 shares during the last quarter. Empirical Finance LLC increased its position in shares of BlackRock by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 4,973 shares of the asset manager’s stock valued at $4,722,000 after acquiring an additional 91 shares during the period. Signature Estate & Investment Advisors LLC raised its stake in BlackRock by 16.9% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 24,265 shares of the asset manager’s stock worth $23,040,000 after acquiring an additional 3,511 shares during the last quarter. CIBC Asset Management Inc lifted its position in BlackRock by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 35,278 shares of the asset manager’s stock worth $33,497,000 after acquiring an additional 1,924 shares during the period. Finally, OneDigital Investment Advisors LLC grew its stake in BlackRock by 5.4% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,749 shares of the asset manager’s stock valued at $2,610,000 after purchasing an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft upped their price target on BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Morgan Stanley upped their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Barclays boosted their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group lifted their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated 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 sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This represents a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

BlackRock stock opened at $1,046.87 on Friday. The stock has a market cap of $155.07 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 1.84 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. The firm has a 50 day simple moving average of $969.04 and a 200-day simple moving average of $869.97. BlackRock, Inc. has a 1-year low of $708.75 and a 1-year high of $1,068.34.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the prior year, the company posted $10.91 earnings per share. BlackRock’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, analysts expect that BlackRock, Inc. will post 43.17 EPS for the current year.

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.