Lake Street Advisors Group LLC Boosts Position in BlackRock, Inc. (NYSE:BLK)

Lake Street Advisors Group LLC grew its position in BlackRock, Inc. (NYSE:BLK) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,379 shares of the asset manager’s stock after buying an additional 20 shares during the quarter. Lake Street Advisors Group LLC’s holdings in BlackRock were worth $1,309,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BLK. Redmont Wealth Advisors LLC acquired a new position in shares of BlackRock in the first quarter worth $27,000. Fairscale Capital LLC purchased a new position in BlackRock in the 2nd quarter valued at about $31,000. MFA Wealth Advisors LLC boosted its stake in shares of BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after purchasing an additional 20 shares during the last quarter. Chilton Capital Management LLC purchased a new stake in shares of BlackRock during the first quarter worth about $38,000. Finally, City Holding Co. purchased a new position in shares of BlackRock during the third quarter valued at approximately $55,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Evercore ISI boosted their price target on BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a report on Monday, October 14th. TD Cowen increased their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Barclays increased 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. Finally, The Goldman Sachs Group boosted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average price target of $995.31.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares in the company, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Wiedman sold 11,061 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,527,116. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,042 shares of company stock valued at $56,857,777 in the last ninety days. Insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of NYSE BLK opened at $974.07 on Friday. The company has a market capitalization of $144.75 billion, a price-to-earnings ratio of 24.75, 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 1-year low of $596.18 and a 1-year high of $1,032.00. The business has a 50-day moving average of $926.47 and a 200-day moving average of $842.59.

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

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.