Atria Investments Inc Grows Position in BlackRock $BLK

Atria Investments Inc boosted its position in BlackRock (NYSE:BLK) by 7.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,325 shares of the asset manager’s stock after acquiring an additional 1,037 shares during the quarter. Atria Investments Inc’s holdings in BlackRock were worth $16,080,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Spinnaker Trust grew its stake in shares of BlackRock by 1.5% during the second quarter. Spinnaker Trust now owns 8,914 shares of the asset manager’s stock worth $9,353,000 after purchasing an additional 130 shares in the last quarter. Savvy Advisors Inc. boosted its position in shares of BlackRock by 42.1% during the 2nd quarter. Savvy Advisors Inc. now owns 1,472 shares of the asset manager’s stock worth $1,544,000 after acquiring an additional 436 shares in the last quarter. Live Oak Private Wealth LLC increased its holdings in shares of BlackRock by 8.7% in the 2nd quarter. Live Oak Private Wealth LLC now owns 1,191 shares of the asset manager’s stock valued at $1,250,000 after acquiring an additional 95 shares during the last quarter. MeadowBrook Investment Advisors LLC acquired a new stake in shares of BlackRock during the 2nd quarter worth about $1,296,000. Finally, Assetmark Inc. boosted its holdings in BlackRock by 44.1% in the second quarter. Assetmark Inc. now owns 23,851 shares of the asset manager’s stock valued at $25,025,000 after purchasing an additional 7,298 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity

In related news, Director Rachel Lord sold 12,000 shares of the 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 directly owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This represents a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Evercore ISI raised their price objective on shares of BlackRock from $1,200.00 to $1,230.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Wells Fargo & Company reduced their price target on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a research report on Wednesday, July 16th. Barclays lifted their target price on BlackRock from $1,310.00 to $1,360.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. UBS Group restated a “hold” rating on shares of BlackRock in a research note on Tuesday, October 21st. Finally, Loop Capital set a $1,255.00 price objective on BlackRock in a research note on Tuesday, October 21st. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,299.29.

BlackRock Trading Down 2.3%

Shares of BLK stock opened at $1,098.88 on Thursday. The company has a market capitalization of $170.16 billion, a P/E ratio of 28.26, a price-to-earnings-growth ratio of 1.95 and a beta of 1.45. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $1,138.79 and its two-hundred day moving average is $1,059.55. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share 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 company had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same period in the prior year, the business earned $11.46 earnings per share. BlackRock’s revenue for the quarter was up 25.2% compared to the same quarter last year. Equities analysts forecast that BlackRock will post 47.41 EPS for the current year.

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.