Foundations Investment Advisors LLC Raises Position in BlackRock, Inc. (NYSE:BLK)

Foundations Investment Advisors LLC increased its position in BlackRock, Inc. (NYSE:BLK) by 9.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 996 shares of the asset manager’s stock after purchasing an additional 89 shares during the quarter. Foundations Investment Advisors LLC’s holdings in BlackRock were worth $945,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Redmont Wealth Advisors LLC bought a new position in BlackRock during the 1st quarter valued at $27,000. Fairscale Capital LLC bought a new position in BlackRock during the second quarter worth $31,000. Chilton Capital Management LLC acquired a new position in BlackRock in the first quarter worth $38,000. Olistico Wealth LLC bought a new stake in BlackRock during the second quarter valued at $53,000. Finally, ORG Partners LLC raised its holdings in shares of BlackRock by 257.9% during the second quarter. ORG Partners LLC now owns 68 shares of the asset manager’s stock worth $54,000 after purchasing an additional 49 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BLK shares. Wells Fargo & Company boosted their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Morgan Stanley upped their target price on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen boosted their price objective on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. increased their target price on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $995.31.

Insider Activity

In related news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mark Wiedman sold 11,061 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,527,116. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares in the company, valued at $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,042 shares of company stock worth $56,857,777 over the last 90 days. 0.90% of the stock is currently owned by company insiders.

BlackRock Stock Down 0.4 %

BLK stock opened at $984.32 on Friday. The firm’s 50-day moving average is $924.23 and its two-hundred day moving average is $841.60. The company has a market capitalization of $146.27 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $1,032.00. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.91 earnings per share. On average, analysts forecast that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal 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.