Biltmore Family Office LLC Boosts Holdings in BlackRock $BLK

Biltmore Family Office LLC grew its holdings in shares of BlackRock (NYSE:BLK) by 4.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 806 shares of the asset manager’s stock after acquiring an additional 33 shares during the quarter. Biltmore Family Office LLC’s holdings in BlackRock were worth $846,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Brighton Jones LLC grew its holdings in shares of BlackRock by 23.1% in the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after purchasing an additional 296 shares during the last quarter. Bison Wealth LLC grew its holdings in shares of BlackRock by 1.6% in the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock worth $1,078,000 after purchasing an additional 17 shares during the last quarter. Nemes Rush Group LLC bought a new position in shares of BlackRock in the first quarter worth approximately $208,000. Allspring Global Investments Holdings LLC grew its holdings in shares of BlackRock by 1.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 33,152 shares of the asset manager’s stock worth $31,298,000 after purchasing an additional 573 shares during the last quarter. Finally, MorganRosel Wealth Management LLC bought a new position in shares of BlackRock in the first quarter worth approximately $31,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the sale, the director owned 7,205 shares in the company, valued at approximately $8,394,113.20. The trade was a 62.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BLK. Barclays raised their target price on shares of BlackRock from $1,310.00 to $1,360.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Wells Fargo & Company cut their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a report on Wednesday, July 16th. Weiss Ratings restated a “buy (b-)” rating on shares of BlackRock in a report on Wednesday, October 8th. Evercore ISI raised their target price on shares of BlackRock from $1,200.00 to $1,230.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Finally, Cowen reiterated a “buy” rating on shares of BlackRock in a report on Wednesday, October 15th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $1,299.29.

BlackRock Stock Performance

NYSE:BLK opened at $1,125.20 on Wednesday. The stock has a market cap of $174.24 billion, a P/E ratio of 28.93, a price-to-earnings-growth ratio of 1.96 and a beta of 1.45. The firm’s fifty day simple moving average is $1,139.39 and its 200 day simple moving average is $1,058.01. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing the consensus estimate of $11.78 by ($0.23). The company had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The business’s revenue was up 25.2% on a year-over-year basis. During the same quarter last year, the firm earned $11.46 EPS. As a group, research analysts predict that BlackRock will post 47.41 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.