BlackRock $BLK Stake Lifted by Bank of Jackson Hole Trust

Bank of Jackson Hole Trust increased its stake in BlackRock (NYSE:BLK) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,201 shares of the asset manager’s stock after acquiring an additional 104 shares during the period. BlackRock makes up approximately 1.3% of Bank of Jackson Hole Trust’s investment portfolio, making the stock its 17th biggest position. Bank of Jackson Hole Trust’s holdings in BlackRock were worth $2,309,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fairway Wealth LLC boosted its holdings in shares of BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC boosted its holdings in shares of BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 15 shares in the last quarter. Garde Capital Inc. boosted its holdings in shares of BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 18 shares in the last quarter. Cheviot Value Management LLC bought a new position in shares of BlackRock in the first quarter valued at approximately $30,000. Finally, Whipplewood Advisors LLC lifted its stake in BlackRock by 107.1% during the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 15 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays increased their target price on shares of BlackRock from $1,310.00 to $1,360.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Zacks Research lowered shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. BMO Capital Markets increased their target price on shares of BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. UBS Group reissued a “hold” rating on shares of BlackRock in a research note on Tuesday, October 21st. Finally, Morgan Stanley increased their target price on shares of BlackRock from $1,362.00 to $1,486.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average target price of $1,299.29.

BlackRock Stock Down 0.5%

Shares of NYSE:BLK opened at $1,125.20 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The company has a market cap of $174.24 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 1.96 and a beta of 1.45. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94. The firm has a 50 day simple moving average of $1,139.39 and a 200 day simple moving average of $1,058.01.

BlackRock (NYSE:BLK) last issued its quarterly 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). The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The firm’s revenue was up 25.2% compared to the same quarter last year. During the same quarter last year, the company posted $11.46 EPS. As a group, research analysts expect that BlackRock will post 47.41 earnings per share for the current year.

Insider Activity at BlackRock

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were 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 approximately $8,394,113.20. This represents a 62.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.98% of the company’s stock.

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.