Ballentine Partners LLC Has $3.25 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Ballentine Partners LLC grew its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.3% in the third quarter, Holdings Channel reports. The institutional investor owned 3,424 shares of the asset manager’s stock after acquiring an additional 11 shares during the period. Ballentine Partners LLC’s holdings in BlackRock were worth $3,251,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BLK. West Michigan Advisors LLC increased its holdings in BlackRock by 22.4% during the 3rd quarter. West Michigan Advisors LLC now owns 640 shares of the asset manager’s stock worth $608,000 after purchasing an additional 117 shares in the last quarter. Dakota Wealth Management grew its holdings in BlackRock by 1,293.5% during the third quarter. Dakota Wealth Management now owns 17,015 shares of the asset manager’s stock worth $16,156,000 after buying an additional 15,794 shares in the last quarter. Investment Research & Advisory Group Inc. grew its holdings in BlackRock by 1.2% during the third quarter. Investment Research & Advisory Group Inc. now owns 5,301 shares of the asset manager’s stock worth $5,037,000 after buying an additional 64 shares in the last quarter. DT Investment Partners LLC raised its position in BlackRock by 0.5% in the 3rd quarter. DT Investment Partners LLC now owns 2,634 shares of the asset manager’s stock valued at $2,501,000 after buying an additional 13 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. boosted its holdings in BlackRock by 1.6% during the third quarter. Pinnacle West Asset Management Inc. now owns 2,536 shares of the asset manager’s stock worth $2,408,000 after purchasing an additional 40 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on BLK. StockNews.com began coverage on BlackRock in a research report on Sunday, October 20th. They issued a “hold” rating for the company. UBS Group reduced their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. TD Cowen boosted their price objective 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. JPMorgan Chase & Co. raised 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. Finally, Wells Fargo & Company upped their price target 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 equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $995.31.

Insider Buying and Selling at BlackRock

In related news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction dated 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 $298,272,703.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other BlackRock news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the 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 sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,042 shares of company stock valued at $56,857,777. 0.90% of the stock is currently owned by company insiders.

BlackRock Stock Performance

Shares of BLK opened at $1,008.00 on Friday. The company has a 50-day simple moving average of $924.23 and a two-hundred day simple moving average of $841.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The firm has a market capitalization of $149.79 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a one year low of $596.18 and a one year high of $1,032.00.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter last year, the business posted $10.91 EPS. On average, analysts anticipate that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

BlackRock Company 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.