Huntington National Bank Has $42.67 Million Stake in BlackRock, Inc. (NYSE:BLK)

Huntington National Bank lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 2.2% in the third quarter, Holdings Channel.com reports. The firm owned 44,940 shares of the asset manager’s stock after selling 1,021 shares during the period. Huntington National Bank’s holdings in BlackRock were worth $42,670,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Plato Investment Management Ltd boosted its stake in BlackRock by 1.0% during the 3rd quarter. Plato Investment Management Ltd now owns 5,912 shares of the asset manager’s stock valued at $5,608,000 after purchasing an additional 59 shares during the last quarter. Mizuho Securities Co. Ltd. boosted its stake in BlackRock by 75.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 140 shares of the asset manager’s stock valued at $133,000 after purchasing an additional 60 shares during the last quarter. Schrum Private Wealth Management LLC acquired a new position in BlackRock during the 3rd quarter valued at about $268,000. Oppenheimer Asset Management Inc. boosted its stake in BlackRock by 0.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 15,499 shares of the asset manager’s stock valued at $14,716,000 after purchasing an additional 51 shares during the last quarter. Finally, Empower Advisory Group LLC boosted its stake in BlackRock by 91.7% during the 3rd quarter. Empower Advisory Group LLC now owns 736 shares of the asset manager’s stock valued at $699,000 after purchasing an additional 352 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. 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. Barclays boosted their target price on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company boosted their target price on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Finally, TD Cowen boosted their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,019.62.

BlackRock Trading Down 0.5 %

Shares of BLK stock opened at $1,030.86 on Thursday. The company’s fifty day simple moving average is $959.13 and its two-hundred day simple moving average is $865.58. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a 1 year low of $673.00 and a 1 year high of $1,068.34. The stock has a market capitalization of $152.70 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 1.85 and a beta of 1.30.

BlackRock (NYSE:BLK) last issued 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 business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.91 EPS. As a group, analysts anticipate that BlackRock, Inc. will post 43.17 earnings per share for the current year.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.