First National Bank Sioux Falls Acquires New Position in BlackRock, Inc. (NYSE:BLK)

First National Bank Sioux Falls acquired a new stake in BlackRock, Inc. (NYSE:BLK) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 225 shares of the asset manager’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BSW Wealth Partners acquired a new position in BlackRock during the third quarter worth about $207,000. Van ECK Associates Corp raised its position in BlackRock by 9.1% during the third quarter. Van ECK Associates Corp now owns 34,015 shares of the asset manager’s stock worth $33,612,000 after acquiring an additional 2,836 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in BlackRock by 0.4% during the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after acquiring an additional 11 shares during the last quarter. Baxter Bros Inc. raised its position in shares of BlackRock by 2.8% in the third quarter. Baxter Bros Inc. now owns 1,081 shares of the asset manager’s stock valued at $1,026,000 after buying an additional 29 shares during the last quarter. Finally, Carmichael Hill & Associates Inc. raised its position in shares of BlackRock by 33.3% in the third quarter. Carmichael Hill & Associates Inc. now owns 80 shares of the asset manager’s stock valued at $76,000 after buying an additional 20 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 BLK shares. StockNews.com started coverage on shares of BlackRock in a research report on Monday, October 28th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods boosted their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Citigroup boosted their target price on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Barclays boosted their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company boosted their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $995.31.

BlackRock Stock Up 0.4 %

Shares of BLK stock traded up $4.05 on Friday, hitting $985.08. The stock had a trading volume of 792,041 shares, compared to its average volume of 571,688. The firm has a market capitalization of $145.92 billion, a price-to-earnings ratio of 24.31, a P/E/G ratio of 1.76 and a beta of 1.30. The stock’s 50 day moving average is $940.00 and its 200-day moving average is $851.56. 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 52-week low of $623.77 and a 52-week high of $1,032.00.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating the consensus estimate of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.91 earnings per share. As a group, research analysts expect that BlackRock, Inc. will post 42.94 earnings per share for the current year.

Insider Activity

In other news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark Wiedman sold 11,061 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,527,116. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,511 shares of company stock worth $55,568,552. 0.90% of the stock is currently owned by company insiders.

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.