BlackRock $BLK Shares Purchased by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. raised its stake in shares of BlackRock (NYSE:BLK) by 10.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,302 shares of the asset manager’s stock after purchasing an additional 862 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in BlackRock were worth $9,760,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Welch Group LLC lifted its position in BlackRock by 1.2% during the second quarter. Welch Group LLC now owns 760 shares of the asset manager’s stock valued at $797,000 after buying an additional 9 shares in the last quarter. Stanley Laman Group Ltd. lifted its position in BlackRock by 2.7% during the second quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock valued at $357,000 after buying an additional 9 shares in the last quarter. CNB Bank lifted its position in BlackRock by 9.6% during the second quarter. CNB Bank now owns 103 shares of the asset manager’s stock valued at $108,000 after buying an additional 9 shares in the last quarter. McLean Asset Management Corp lifted its position in BlackRock by 3.9% during the second quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock valued at $285,000 after buying an additional 10 shares in the last quarter. Finally, Trust Co. of Oklahoma lifted its position in BlackRock by 0.5% during the second quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager’s stock valued at $2,123,000 after buying an additional 10 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BLK. Citigroup lifted their price target on shares of BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a research report on Monday, September 29th. The Goldman Sachs Group lifted their price target on shares of BlackRock from $1,163.00 to $1,312.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Evercore ISI lifted their price objective on shares of BlackRock from $1,200.00 to $1,230.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. UBS Group reiterated a “hold” rating on shares of BlackRock in a research note on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,299.29.

BlackRock Stock Performance

BlackRock stock opened at $1,098.88 on Thursday. The company has a market cap of $170.16 billion, a PE ratio of 28.26, a P/E/G ratio of 1.95 and a beta of 1.45. The company has a fifty day moving average price of $1,138.79 and a two-hundred day moving average price of $1,059.55. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,219.94.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The business had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.22 billion. BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The business’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $11.46 EPS. Research analysts expect that BlackRock will post 47.41 earnings per share for the current year.

Insider Buying and Selling

In other BlackRock news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the completion of the transaction, the director owned 7,205 shares of the company’s stock, valued at $8,394,113.20. The trade was a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.98% of the stock is currently owned by corporate insiders.

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.