Prudent Man Advisors LLC Raises Position in BlackRock $BLK

Prudent Man Advisors LLC grew its position in BlackRock (NYSE:BLK) by 11.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,384 shares of the asset manager’s stock after buying an additional 252 shares during the period. BlackRock makes up about 0.8% of Prudent Man Advisors LLC’s investment portfolio, making the stock its 23rd largest holding. Prudent Man Advisors LLC’s holdings in BlackRock were worth $2,501,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Fairway Wealth LLC raised its holdings in BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after buying an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC raised its holdings in BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after buying an additional 15 shares during the last quarter. Garde Capital Inc. raised its holdings in BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after buying an additional 18 shares during the last quarter. Cheviot Value Management LLC purchased a new position in BlackRock in the first quarter worth about $30,000. Finally, Whipplewood Advisors LLC raised its holdings in BlackRock by 107.1% in the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after buying an additional 15 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Cowen reaffirmed a “buy” rating on shares of BlackRock in a report on Wednesday, October 15th. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Morgan Stanley boosted their price objective on shares of BlackRock from $1,362.00 to $1,486.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. TD Cowen boosted their price objective on shares of BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, BNP Paribas Exane boosted their price objective on shares of BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Seventeen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $1,299.29.

Insider Buying and Selling

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 transaction of $13,980,480.00. Following the completion of the sale, the director directly owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the sale, the director directly owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Stock Up 1.2%

Shares of BLK stock opened at $1,138.60 on Friday. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,219.94. The stock has a market cap of $176.31 billion, a P/E ratio of 29.28, a P/E/G ratio of 1.97 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 company has a 50 day simple moving average of $1,139.57 and a two-hundred day simple moving average of $1,053.41.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The business had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.22 billion. During the same period in the prior year, the company posted $11.46 earnings per share. The firm’s quarterly revenue was up 25.2% on a year-over-year basis. On average, research analysts expect that BlackRock will post 47.41 earnings per share for the current year.

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.