Farrow Financial Inc. Buys 14 Shares of BlackRock, Inc. (NYSE:BLK)

Farrow Financial Inc. boosted its stake in BlackRock, Inc. (NYSE:BLK) by 0.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,592 shares of the asset manager’s stock after purchasing an additional 14 shares during the quarter. BlackRock comprises about 1.6% of Farrow Financial Inc.’s investment portfolio, making the stock its 20th largest holding. Farrow Financial Inc.’s holdings in BlackRock were worth $2,461,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new stake in BlackRock in the 1st quarter valued at $27,000. Fairscale Capital LLC acquired a new position in shares of BlackRock during the second quarter worth about $31,000. Chilton Capital Management LLC bought a new position in shares of BlackRock during the first quarter worth about $38,000. MFA Wealth Advisors LLC raised its position in BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares during the last quarter. Finally, Olistico Wealth LLC bought a new stake in BlackRock in the 2nd quarter valued at approximately $53,000. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BLK. Evercore ISI lifted their price objective on shares of BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Barclays boosted their price target on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company raised 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. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group boosted their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $995.31.

BlackRock Price Performance

BlackRock stock traded down $9.93 during midday trading on Friday, hitting $974.07. 433,666 shares of the company’s stock were exchanged, compared to its average volume of 573,772. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The stock has a 50-day moving average price of $928.50 and a two-hundred day moving average price of $843.77. The company has a market cap of $144.75 billion, a P/E ratio of 24.75, a PEG ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $1,032.00.

BlackRock (NYSE:BLK) last announced 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. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the prior year, the company earned $10.91 EPS. The firm’s revenue was up 14.9% on a year-over-year basis. On average, equities research analysts forecast that BlackRock, Inc. will post 41.73 earnings per share for the current year.

Insider Buying and Selling at BlackRock

In related news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other BlackRock news, Director Mark Wiedman sold 11,061 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $852.95, for a total value of $9,434,479.95. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,527,116. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Pamela Daley sold 1,531 shares of the company’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 value of $1,289,224.48. Following the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,042 shares of company stock worth $56,857,777. 0.90% of the stock is currently owned by company insiders.

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.