BlackRock $BLK Shares Acquired by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust lifted its position in BlackRock (NYSE:BLK) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 841 shares of the asset manager’s stock after purchasing an additional 47 shares during the quarter. Parkside Financial Bank & Trust’s holdings in BlackRock were worth $882,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of BlackRock by 2.9% in the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock valued at $13,027,419,000 after acquiring an additional 387,466 shares during the period. Royal Bank of Canada raised its position in BlackRock by 73.2% in the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after purchasing an additional 555,098 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in BlackRock by 10.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager’s stock worth $1,142,340,000 after purchasing an additional 111,694 shares during the period. Goldman Sachs Group Inc. boosted its stake in BlackRock by 32.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock worth $1,071,339,000 after purchasing an additional 279,336 shares during the period. Finally, Invesco Ltd. grew its position in BlackRock by 13.2% during the 1st quarter. Invesco Ltd. now owns 932,899 shares of the asset manager’s stock worth $882,970,000 after purchasing an additional 108,473 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of BLK opened at $1,081.66 on Friday. 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 stock’s 50 day moving average is $1,130.62 and its two-hundred day moving average is $1,069.28. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The firm has a market capitalization of $167.50 billion, a PE ratio of 27.81, a P/E/G ratio of 1.90 and a beta of 1.48.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $6.22 billion. During the same period last year, the company posted $11.46 earnings per share. The business’s quarterly revenue was up 25.2% on a year-over-year basis. Research analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

Insider Transactions at BlackRock

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Morgan Stanley boosted their price target on BlackRock from $1,362.00 to $1,486.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Argus upped their price objective on BlackRock from $1,165.00 to $1,330.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. TD Cowen lifted their target price on BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Loop Capital set a $1,255.00 target price on BlackRock in a report on Tuesday, October 21st. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,303.41.

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.