SYM FINANCIAL Corp Buys 14 Shares of BlackRock $BLK

SYM FINANCIAL Corp raised its stake in shares of BlackRock (NYSE:BLK) by 3.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 412 shares of the asset manager’s stock after acquiring an additional 14 shares during the quarter. SYM FINANCIAL Corp’s holdings in BlackRock were worth $432,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Welch Group LLC increased its position 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 purchasing an additional 9 shares during the period. Stanley Laman Group Ltd. increased its holdings in BlackRock by 2.7% in the 2nd quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock valued at $357,000 after buying an additional 9 shares during the period. CNB Bank increased its holdings in BlackRock by 9.6% in the 2nd quarter. CNB Bank now owns 103 shares of the asset manager’s stock valued at $108,000 after buying an additional 9 shares during the period. McLean Asset Management Corp increased its holdings in BlackRock by 3.9% in the 2nd quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock valued at $285,000 after buying an additional 10 shares during the period. Finally, Trust Co. of Oklahoma increased its stake in BlackRock by 0.5% in the second quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager’s stock valued at $2,123,000 after acquiring an additional 10 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BLK shares. Morgan Stanley upped 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. BNP Paribas Exane upped their price objective on BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Argus upped their price target on BlackRock from $1,165.00 to $1,330.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Finally, BMO Capital Markets upped their target price on shares of BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,299.29.

BlackRock Price Performance

Shares of BLK stock opened at $1,130.06 on Tuesday. The stock’s fifty day moving average is $1,139.45 and its 200-day moving average is $1,056.13. 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 stock has a market capitalization of $174.99 billion, a PE ratio of 29.06, a PEG ratio of 1.97 and a beta of 1.45. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94.

BlackRock (NYSE:BLK) last announced its 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). 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 the consensus estimate of $6.22 billion. During the same quarter in the previous year, the company posted $11.46 EPS. BlackRock’s revenue for the quarter was up 25.2% on a year-over-year basis. Equities research analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

Insider Buying and Selling

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

BlackRock Company 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.