Graypoint LLC Has $1.40 Million Position in BlackRock, Inc. (NYSE:BLK)

Graypoint LLC lifted its stake in BlackRock, Inc. (NYSE:BLK) by 8.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,473 shares of the asset manager’s stock after purchasing an additional 113 shares during the period. Graypoint LLC’s holdings in BlackRock were worth $1,399,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Marino Stram & Associates LLC boosted its holdings in BlackRock by 0.3% in the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after purchasing an additional 10 shares during the period. Onyx Bridge Wealth Group LLC boosted its holdings in BlackRock by 3.5% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after purchasing an additional 11 shares during the period. Ballentine Partners LLC boosted its holdings in BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after purchasing an additional 11 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in BlackRock by 0.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock valued at $2,829,000 after purchasing an additional 11 shares during the period. Finally, XML Financial LLC lifted its holdings in shares of BlackRock by 2.6% during the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after acquiring an additional 12 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BLK. StockNews.com began coverage on shares of BlackRock in a report on Tuesday. They set a “hold” rating for the company. Citigroup upped their price target on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Barclays upped their price target on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. TD Cowen upped their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Morgan Stanley upped their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $1,004.54.

Insider Activity

In other news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $875.03, for a total value of $10,500,360.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,670,194.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders have sold 35,061 shares of company stock valued at $30,734,840. 0.90% of the stock is currently owned by insiders.

BlackRock Trading Up 0.6 %

Shares of NYSE BLK opened at $1,036.38 on Friday. 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 $648.43 and a 52-week high of $1,057.51. The firm has a 50 day moving average price of $947.54 and a two-hundred day moving average price of $857.04. The stock has a market cap of $153.52 billion, a P/E ratio of 25.58, a price-to-earnings-growth ratio of 1.78 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the firm posted $10.91 EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, equities analysts forecast that BlackRock, Inc. will post 42.94 EPS for the current year.

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.