Kirtland Hills Capital Management LLC Acquires 113 Shares of BlackRock, Inc. (NYSE:BLK)

Kirtland Hills Capital Management LLC raised its stake in shares of BlackRock, Inc. (NYSE:BLK) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,743 shares of the asset manager’s stock after purchasing an additional 113 shares during the quarter. BlackRock accounts for about 1.2% of Kirtland Hills Capital Management LLC’s investment portfolio, making the stock its 11th biggest position. Kirtland Hills Capital Management LLC’s holdings in BlackRock were worth $2,605,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Marino Stram & Associates LLC lifted its position in shares of BlackRock by 0.3% in the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after purchasing an additional 10 shares during the period. Onyx Bridge Wealth Group LLC grew its position in BlackRock by 3.5% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after purchasing an additional 11 shares during the last quarter. Ballentine Partners LLC raised its holdings in BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock worth $3,251,000 after acquiring an additional 11 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of BlackRock by 0.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock valued at $2,829,000 after buying an additional 11 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in shares of BlackRock by 0.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock valued at $1,447,000 after purchasing an additional 11 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

NYSE BLK opened at $1,028.38 on Wednesday. The stock has a market capitalization of $159.27 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.87 and a beta of 1.30. The stock has a 50-day moving average of $975.38 and a 200 day moving average of $875.55. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a twelve month low of $712.11 and a twelve month high of $1,068.34.

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

Insider Buying and Selling

In other news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on BLK. Evercore ISI raised their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. TD Cowen upped their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. StockNews.com initiated coverage on shares of BlackRock in a research note on Wednesday, November 13th. They set a “hold” rating for the company. Finally, The Goldman Sachs Group upped their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $1,019.62.

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.