BlackRock, Inc. (BLK) Shares Bought by Legacy Advisors LLC

Legacy Advisors LLC raised its stake in BlackRock, Inc. (NYSE:BLK) by 79.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 338 shares of the asset manager’s stock after purchasing an additional 150 shares during the period. Legacy Advisors LLC’s holdings in BlackRock were worth $159,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of BLK. BlackRock Inc. increased its position in shares of BlackRock by 2.1% during the second quarter. BlackRock Inc. now owns 7,601,685 shares of the asset manager’s stock worth $3,793,546,000 after acquiring an additional 153,749 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of BlackRock by 2.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 476,036 shares of the asset manager’s stock worth $237,562,000 after acquiring an additional 12,785 shares in the last quarter. Mawer Investment Management Ltd. increased its position in shares of BlackRock by 1.5% during the second quarter. Mawer Investment Management Ltd. now owns 411,071 shares of the asset manager’s stock worth $205,141,000 after acquiring an additional 5,981 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of BlackRock by 5.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 380,630 shares of the asset manager’s stock worth $189,950,000 after acquiring an additional 21,123 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of BlackRock by 47.4% during the second quarter. Janus Henderson Group PLC now owns 348,987 shares of the asset manager’s stock worth $174,168,000 after acquiring an additional 112,221 shares in the last quarter. 82.81% of the stock is owned by hedge funds and other institutional investors.

In other news, Director William E. Ford acquired 1,000 shares of BlackRock stock in a transaction on Thursday, August 2nd. The stock was acquired at an average cost of $467.92 per share, with a total value of $467,920.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,526,768. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William E. Ford acquired 2,000 shares of BlackRock stock in a transaction on Wednesday, October 17th. The stock was purchased at an average cost of $409.59 per share, with a total value of $819,180.00. Following the completion of the transaction, the director now directly owns 7,466 shares in the company, valued at approximately $3,057,998.94. The disclosure for this purchase can be found here. Corporate insiders own 1.86% of the company’s stock.

Shares of BLK stock opened at $399.87 on Friday. BlackRock, Inc. has a 52-week low of $399.00 and a 52-week high of $594.52. The company has a quick ratio of 3.87, a current ratio of 3.87 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $65.72 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 1.33 and a beta of 1.55.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, October 16th. The asset manager reported $7.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $6.93 by $0.59. BlackRock had a net margin of 39.92% and a return on equity of 13.76%. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the firm posted $5.76 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts expect that BlackRock, Inc. will post 27.59 EPS for the current year.

Several equities research analysts have recently commented on BLK shares. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $541.00 to $592.00 and gave the stock a “buy” rating in a research report on Monday, October 8th. Morgan Stanley decreased their target price on shares of BlackRock from $607.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, October 9th. Goldman Sachs Group downgraded shares of BlackRock from a “conviction-buy” rating to a “buy” rating in a research report on Wednesday. Deutsche Bank boosted their target price on shares of BlackRock from $549.00 to $559.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. Finally, Citigroup decreased their target price on shares of BlackRock to $500.00 and set a “buy” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. BlackRock currently has an average rating of “Buy” and a consensus target price of $569.08.

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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