Sage Mountain Advisors LLC Buys 70 Shares of BlackRock $BLK

Sage Mountain Advisors LLC lifted its stake in shares of BlackRock (NYSE:BLK) by 5.2% during the second quarter, Holdings Channel.com reports. The firm owned 1,408 shares of the asset manager’s stock after acquiring an additional 70 shares during the period. Sage Mountain Advisors LLC’s holdings in BlackRock were worth $1,478,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Welch Group LLC grew its holdings in shares of BlackRock by 1.2% during the second quarter. Welch Group LLC now owns 760 shares of the asset manager’s stock valued at $797,000 after buying an additional 9 shares during the last quarter. Stanley Laman Group Ltd. lifted its position in BlackRock by 2.7% during the second quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock valued at $357,000 after purchasing an additional 9 shares during the period. McLean Asset Management Corp lifted its position in BlackRock by 3.9% during the second quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 10 shares during the period. Trust Co. of Oklahoma lifted its position in BlackRock by 0.5% during the second quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager’s stock valued at $2,123,000 after purchasing an additional 10 shares during the period. Finally, TOWER TRUST & INVESTMENT Co lifted its position in BlackRock by 1.3% during the second quarter. TOWER TRUST & INVESTMENT Co now owns 799 shares of the asset manager’s stock valued at $838,000 after purchasing an additional 10 shares during the period. Institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on BLK shares. JPMorgan Chase & Co. increased their price target on shares of BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. Wells Fargo & Company decreased their price target on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of BlackRock in a research report on Wednesday, October 8th. Cowen reiterated a “buy” rating on shares of BlackRock in a research report on Wednesday, October 15th. Finally, The Goldman Sachs Group increased their price target on shares of BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,299.29.

BlackRock Stock Up 1.2%

Shares of BLK stock opened at $1,138.60 on Friday. The company has a market capitalization of $176.31 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 1.95 and a beta of 1.45. The company’s fifty day moving average price is $1,139.57 and its 200-day moving average price is $1,051.77. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04.

BlackRock (NYSE:BLK) last posted its 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). The company had revenue of $6.51 billion for 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 business’s revenue was up 25.2% on a year-over-year basis. During the same period in the previous year, the business posted $11.46 earnings per share. Sell-side analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction 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 completion of the transaction, the director directly owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This trade represents a 62.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the transaction, the director directly owned 61,369 shares of the company’s stock, valued at $68,763,964.50. The trade was a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

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.