Old Port Advisors Increases Position in BlackRock, Inc. (NYSE:BLK)

Old Port Advisors lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 5.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 428 shares of the asset manager’s stock after buying an additional 24 shares during the quarter. Old Port Advisors’ holdings in BlackRock were worth $406,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BLK. Nisa Investment Advisors LLC lifted its holdings in shares of BlackRock by 0.6% in the third quarter. Nisa Investment Advisors LLC now owns 41,711 shares of the asset manager’s stock worth $39,605,000 after buying an additional 265 shares in the last quarter. Independent Investors Inc. purchased a new stake in BlackRock in the 3rd quarter worth $214,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of BlackRock by 2.5% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,179 shares of the asset manager’s stock valued at $1,120,000 after purchasing an additional 29 shares during the last quarter. Concord Wealth Partners grew its position in shares of BlackRock by 3.0% during the third quarter. Concord Wealth Partners now owns 657 shares of the asset manager’s stock valued at $624,000 after purchasing an additional 19 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. bought a new stake in shares of BlackRock in the third quarter worth about $332,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

BLK opened at $983.40 on Wednesday. The company has a market capitalization of $146.13 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 1.94 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 12-month low of $600.26 and a 12-month high of $1,032.00. The business’s fifty day simple moving average is $933.29 and its 200-day simple moving average is $847.45.

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, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the prior year, the business earned $10.91 EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. On average, equities research analysts anticipate that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

Insider Activity at BlackRock

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the company’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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, 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 value of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Pamela Daley sold 1,531 shares of the company’s 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 sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,042 shares of company stock valued at $56,857,777 over the last ninety days. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on BLK. StockNews.com assumed coverage on BlackRock in a research note on Monday. They set a “hold” rating for the company. The Goldman Sachs Group increased their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. TD Cowen increased their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, UBS Group lowered their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $995.31.

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.