BlackRock, Inc. (NYSE:BLK) Shares Bought by Bank of Stockton

Bank of Stockton boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 12.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 501 shares of the asset manager’s stock after purchasing an additional 57 shares during the period. Bank of Stockton’s holdings in BlackRock were worth $476,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Axxcess Wealth Management LLC lifted its holdings in BlackRock by 35.8% in the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after acquiring an additional 1,248 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in BlackRock by 3.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock worth $322,810,000 after buying an additional 14,477 shares in the last quarter. Oak Harvest Investment Services acquired a new stake in BlackRock during the first quarter valued at $6,735,000. Cetera Investment Advisers increased its holdings in BlackRock by 219.5% in the first quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock valued at $36,737,000 after buying an additional 30,274 shares in the last quarter. Finally, M&G Plc acquired a new position in shares of BlackRock in the first quarter worth about $161,918,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Pamela Daley sold 1,531 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,042 shares of company stock worth $56,857,777 in the last quarter. Company insiders own 0.90% of the company’s stock.

BlackRock Price Performance

NYSE BLK traded down $2.50 during trading hours on Friday, hitting $981.50. 109,496 shares of the company’s stock traded hands, compared to its average volume of 572,207. The company has a market capitalization of $145.85 billion, a PE ratio of 25.01, a PEG ratio of 1.94 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, Inc. has a 52-week low of $596.18 and a 52-week high of $1,032.00. The firm’s 50-day moving average is $924.23 and its 200-day moving average is $841.60.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the firm earned $10.91 earnings per share. Equities analysts forecast that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BLK has been the subject of several recent analyst reports. Evercore ISI lifted their price target on BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Citigroup boosted their price objective on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft increased their target price on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Wells Fargo & Company increased their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Three research 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 presently has an average rating of “Moderate Buy” and a consensus target price of $995.31.

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.