278 Shares in BlackRock $BLK Bought by Balentine LLC

Balentine LLC bought a new position in shares of BlackRock (NYSE:BLK) during the 2nd quarter, Holdings Channel.com reports. The firm bought 278 shares of the asset manager’s stock, valued at approximately $292,000.

Other hedge funds have also recently bought and sold shares of the company. Securian Asset Management Inc. acquired a new position in BlackRock during the first quarter worth $7,331,000. Prudent Man Advisors LLC acquired a new stake in shares of BlackRock in the first quarter valued at about $2,018,000. Allianz SE grew its position in shares of BlackRock by 2.6% in the first quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock valued at $10,435,000 after purchasing an additional 277 shares during the last quarter. Arizona State Retirement System acquired a new stake in shares of BlackRock in the first quarter valued at about $40,868,000. Finally, Weil Company Inc. grew its position in shares of BlackRock by 194.6% in the first quarter. Weil Company Inc. now owns 2,074 shares of the asset manager’s stock valued at $1,963,000 after purchasing an additional 1,370 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BLK has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft set a $1,320.00 price target on BlackRock and gave the company a “buy” rating in a research report on Wednesday, October 15th. Telsey Advisory Group reaffirmed an “outperform” rating on shares of BlackRock in a research report on Tuesday, July 8th. Cowen reaffirmed a “buy” rating on shares of BlackRock in a research report on Wednesday, October 15th. Zacks Research downgraded BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Finally, Argus lifted their target price on BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,299.29.

BlackRock Stock Down 1.5%

BLK stock opened at $1,081.62 on Friday. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The company has a market cap of $167.49 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 1.90 and a beta of 1.45. The business’s 50-day simple moving average is $1,136.93 and its 200 day simple moving average is $1,061.13. 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 announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $11.46 EPS. On average, research analysts anticipate 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 the firm’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 completion of the transaction, the director owned 7,205 shares in the company, valued at $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.98% of the stock is currently owned by corporate insiders.

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.