GHP Investment Advisors Inc. boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 8.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,019 shares of the asset manager’s stock after purchasing an additional 153 shares during the period. GHP Investment Advisors Inc.’s holdings in BlackRock were worth $952,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Clarus Wealth Advisors purchased a new position in BlackRock during the second quarter worth about $133,000. Canton Hathaway LLC purchased a new position in BlackRock during the third quarter worth about $146,000. AlphaMark Advisors LLC purchased a new position in BlackRock during the second quarter worth about $147,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in BlackRock during the second quarter worth about $150,000. Finally, Kaizen Advisory LLC raised its stake in BlackRock by 156.7% during the second quarter. Kaizen Advisory LLC now owns 308 shares of the asset manager’s stock worth $154,000 after purchasing an additional 188 shares during the period. 82.81% of the stock is currently owned by institutional investors.
Shares of BLK opened at $399.87 on Friday. BlackRock, Inc. has a 1-year low of $399.00 and a 1-year high of $594.52. The stock has a market cap of $65.72 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 1.33 and a beta of 1.55. The company has a quick ratio of 3.87, a current ratio of 3.87 and a debt-to-equity ratio of 0.88.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Tuesday, October 16th. The asset manager reported $7.52 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.65 billion. During the same period last year, the business earned $5.76 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities research analysts predict that BlackRock, Inc. will post 27.59 earnings per share for the current fiscal year.
A number of equities analysts have commented on BLK shares. JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $541.00 to $592.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. Morgan Stanley dropped their price target 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 cut shares of BlackRock from a “conviction-buy” rating to a “buy” rating in a research report on Wednesday. Deutsche Bank lifted their price target on shares of BlackRock from $549.00 to $559.00 and gave the company a “buy” rating in a research report on Thursday, September 27th. Finally, Citigroup dropped their price target on shares of BlackRock to $500.00 and set a “buy” rating for the company in a research report on Wednesday. One 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 has a consensus rating of “Buy” and an average target price of $569.08.
In other BlackRock news, Director William E. Ford acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The stock was purchased at an average price of $467.92 per share, for a total transaction of $467,920.00. Following the completion of the acquisition, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,526,768. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William E. Ford acquired 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 17th. The stock was acquired at an average price of $409.59 per share, with a total value of $819,180.00. Following the acquisition, the director now directly owns 7,466 shares of the company’s stock, valued at approximately $3,057,998.94. The disclosure for this purchase can be found here. 1.86% of the stock is owned by company insiders.
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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