BlackRock $BLK Shares Bought by Spinnaker Trust

Spinnaker Trust grew its holdings in BlackRock (NYSE:BLK) by 1.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 8,914 shares of the asset manager’s stock after acquiring an additional 130 shares during the quarter. Spinnaker Trust’s holdings in BlackRock were worth $9,353,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fairway Wealth LLC raised its holdings in shares of BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC raised its holdings in shares of BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 15 shares during the last quarter. Garde Capital Inc. raised its holdings in shares of BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after buying an additional 18 shares during the last quarter. Cheviot Value Management LLC purchased a new stake in shares of BlackRock in the first quarter valued at about $30,000. Finally, Whipplewood Advisors LLC raised its holdings in shares of BlackRock by 107.1% in the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after buying an additional 15 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Trading Down 2.3%

Shares of BLK opened at $1,098.88 on Thursday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The firm’s 50-day moving average is $1,138.79 and its two-hundred day moving average is $1,059.55. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The firm has a market capitalization of $170.16 billion, a P/E ratio of 28.26, a PEG ratio of 1.95 and a beta of 1.45.

BlackRock (NYSE:BLK) last issued its 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). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The company had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same quarter in the previous year, the company posted $11.46 earnings per share. The company’s quarterly revenue was up 25.2% compared to the same quarter last year. On average, research analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 7,205 shares in the company, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BlackRock in a report on Wednesday, October 8th. Telsey Advisory Group reissued an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. Morgan Stanley increased their price target on shares of BlackRock from $1,362.00 to $1,486.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. UBS Group reissued a “hold” rating on shares of BlackRock in a report on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods increased their price target on shares of BlackRock from $1,215.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,299.29.

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.