BlackRock, Inc. (NYSE:BLK) Position Lifted by Asset Planning Services Inc. LA ADV

Asset Planning Services Inc. LA ADV boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,003 shares of the asset manager’s stock after buying an additional 30 shares during the period. BlackRock accounts for about 3.8% of Asset Planning Services Inc. LA ADV’s portfolio, making the stock its 8th largest holding. Asset Planning Services Inc. LA ADV’s holdings in BlackRock were worth $7,599,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BLK. Axxcess Wealth Management LLC raised its position in shares of BlackRock by 35.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after buying an additional 1,248 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in BlackRock by 3.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock valued at $322,810,000 after buying an additional 14,477 shares during the last quarter. Oak Harvest Investment Services acquired a new stake in shares of BlackRock during the first quarter valued at about $6,735,000. Cetera Investment Advisers raised its position in BlackRock by 219.5% in the 1st quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock valued at $36,737,000 after purchasing an additional 30,274 shares in the last quarter. Finally, M&G Plc purchased a new stake in shares of BlackRock during the first quarter worth approximately $161,918,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday. Morgan Stanley boosted their target price on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. StockNews.com assumed coverage on shares of BlackRock in a research report on Sunday. They set a “hold” rating on the stock. Keefe, Bruyette & Woods increased their price target on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Finally, The Goldman Sachs Group lifted their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $995.31.

BlackRock Stock Down 1.3 %

BlackRock stock opened at $988.16 on Thursday. The firm has a market capitalization of $146.84 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $1,032.00. The stock’s fifty day moving average is $924.23 and its two-hundred day moving average is $841.60.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. BlackRock’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.91 EPS. Analysts predict that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

Insider Activity

In other news, Director Pamela Daley sold 1,531 shares of the stock in a transaction dated Friday, August 2nd. The shares were 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 in the company, valued at $4,826,802.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, 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 transaction, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,042 shares of company stock valued at $56,857,777 over the last 90 days. Insiders own 0.90% 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.