BIP Wealth LLC Buys 49 Shares of BlackRock $BLK

BIP Wealth LLC raised its position in shares of BlackRock (NYSE:BLK) by 17.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 335 shares of the asset manager’s stock after purchasing an additional 49 shares during the quarter. BIP Wealth LLC’s holdings in BlackRock were worth $351,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BLK. AG2R LA Mondiale Gestion D Actifs boosted its stake in shares of BlackRock by 1.0% in the 2nd quarter. AG2R LA Mondiale Gestion D Actifs now owns 5,497 shares of the asset manager’s stock valued at $5,768,000 after purchasing an additional 54 shares during the last quarter. Richards Merrill & Peterson Inc. boosted its position in BlackRock by 10.1% during the second quarter. Richards Merrill & Peterson Inc. now owns 841 shares of the asset manager’s stock valued at $882,000 after acquiring an additional 77 shares during the last quarter. CNB Bank grew its holdings in BlackRock by 9.6% during the 2nd quarter. CNB Bank now owns 103 shares of the asset manager’s stock worth $108,000 after acquiring an additional 9 shares during the period. Sage Mountain Advisors LLC raised its position in shares of BlackRock by 5.2% in the 2nd quarter. Sage Mountain Advisors LLC now owns 1,408 shares of the asset manager’s stock worth $1,478,000 after acquiring an additional 70 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of BlackRock by 239.2% in the 2nd quarter. AlphaQuest LLC now owns 1,116 shares of the asset manager’s stock valued at $1,171,000 after purchasing an additional 787 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

BLK opened at $1,138.60 on Friday. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94. The company has a market cap of $176.31 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 1.97 and a beta of 1.45. The company’s fifty day moving average price is $1,139.57 and its two-hundred day moving average price is $1,053.41. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS 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 business had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same period in the previous year, the firm earned $11.46 earnings per share. The company’s revenue was up 25.2% on a year-over-year basis. On average, analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

Insider Activity at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of the company’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the sale, the director owned 61,369 shares of the company’s stock, valued at $68,763,964.50. This trade represents a 21.83% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BLK shares. Keefe, Bruyette & Woods raised their target price on BlackRock from $1,215.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. BMO Capital Markets raised their price objective on shares of BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. BNP Paribas Exane boosted their target price on shares of BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Argus raised their price target on shares of BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, Bank of America upped their price objective on shares of BlackRock from $1,394.00 to $1,456.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,299.29.

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.