BlackRock $BLK Shares Purchased by Linscomb Wealth Inc.

Linscomb Wealth Inc. increased its position in shares of BlackRock (NYSE:BLK) by 1.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 13,721 shares of the asset manager’s stock after acquiring an additional 189 shares during the period. BlackRock accounts for 0.7% of Linscomb Wealth Inc.’s holdings, making the stock its 23rd biggest position. Linscomb Wealth Inc.’s holdings in BlackRock were worth $14,397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creekmur Asset Management LLC raised its holdings in BlackRock by 87.5% during the second quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock worth $32,000 after purchasing an additional 14 shares during the last quarter. IFG Advisory LLC increased its position in BlackRock by 3.2% during the second quarter. IFG Advisory LLC now owns 3,391 shares of the asset manager’s stock worth $3,557,000 after buying an additional 106 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its position in BlackRock by 0.7% during the second quarter. Mesirow Financial Investment Management Inc. now owns 22,220 shares of the asset manager’s stock worth $23,314,000 after buying an additional 159 shares in the last quarter. Simon Quick Advisors LLC increased its position in BlackRock by 428.9% during the second quarter. Simon Quick Advisors LLC now owns 4,464 shares of the asset manager’s stock worth $4,684,000 after buying an additional 3,620 shares in the last quarter. Finally, Strs Ohio increased its position in BlackRock by 9.2% during the second quarter. Strs Ohio now owns 47,866 shares of the asset manager’s stock worth $50,223,000 after buying an additional 4,027 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BlackRock

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

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,096.92 on Friday. The company has a market cap of $169.86 billion, a P/E ratio of 28.21, a P/E/G ratio of 1.90 and a beta of 1.45. 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 has a 52 week low of $773.74 and a 52 week high of $1,219.94. The business has a fifty day simple moving average of $1,138.25 and a 200-day simple moving average of $1,059.80.

BlackRock (NYSE:BLK) last announced 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 analysts’ expectations of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. BlackRock’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same period in the prior year, the firm earned $11.46 EPS. Equities research analysts forecast that BlackRock will post 47.41 EPS for the current year.

Wall Street Analysts Forecast Growth

BLK has been the subject of several recent research reports. Telsey Advisory Group reissued an “outperform” rating on shares of BlackRock in a research report on Tuesday, July 8th. BNP Paribas Exane raised their price target on BlackRock from $1,160.00 to $1,265.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Loop Capital set a $1,255.00 price target on BlackRock in a research report on Tuesday, October 21st. Evercore ISI lifted their target price on shares of BlackRock from $1,200.00 to $1,230.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Finally, Cowen reaffirmed a “buy” rating on shares of BlackRock in a research note on Wednesday, October 15th. Seventeen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.