CENTRAL TRUST Co Raises Position in BlackRock, Inc. (NYSE:BLK)

CENTRAL TRUST Co lifted its stake in BlackRock, Inc. (NYSE:BLK) by 1.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,817 shares of the asset manager’s stock after acquiring an additional 36 shares during the period. CENTRAL TRUST Co’s holdings in BlackRock were worth $3,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Kingswood Wealth Advisors LLC increased its holdings in BlackRock by 2.5% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 696 shares of the asset manager’s stock worth $581,000 after acquiring an additional 17 shares in the last quarter. Brookstone Capital Management raised its position in shares of BlackRock by 9.6% during the 1st quarter. Brookstone Capital Management now owns 583 shares of the asset manager’s stock valued at $486,000 after purchasing an additional 51 shares during the period. Sovereign Financial Group Inc. purchased a new position in shares of BlackRock during the 1st quarter valued at $210,000. Wealth Enhancement Advisory Services LLC boosted its holdings in BlackRock by 2.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 29,774 shares of the asset manager’s stock worth $24,822,000 after buying an additional 689 shares during the period. Finally, Thrive Wealth Management LLC increased its stake in BlackRock by 15.0% in the 1st quarter. Thrive Wealth Management LLC now owns 361 shares of the asset manager’s stock worth $301,000 after buying an additional 47 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,042 shares of company stock worth $56,857,777. 0.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BLK shares. Barclays upped their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company upped their price target on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Morgan Stanley upped their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $995.31.

BlackRock Trading Down 0.4 %

Shares of NYSE BLK opened at $984.32 on Friday. The stock has a market capitalization of $146.27 billion, a P/E ratio of 25.01, a PEG ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $1,032.00. The business’s 50 day moving average is $924.23 and its two-hundred day moving average is $841.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period last year, the company earned $10.91 earnings per share. BlackRock’s revenue was up 14.9% on a year-over-year basis. As a group, research analysts expect that BlackRock, Inc. will post 41.73 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.