Tarbox Family Office Inc. Acquires New Shares in BlackRock, Inc. (NYSE:BLK)

Tarbox Family Office Inc. acquired a new stake in BlackRock, Inc. (NYSE:BLK) in the third quarter, Holdings Channel reports. The institutional investor acquired 211 shares of the asset manager’s stock, valued at approximately $200,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Redmont Wealth Advisors LLC bought a new stake in BlackRock in the first quarter valued at about $27,000. Fairscale Capital LLC bought a new stake in BlackRock in the second quarter valued at about $31,000. MFA Wealth Advisors LLC increased its holdings in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares during the last quarter. Chilton Capital Management LLC bought a new stake in BlackRock in the first quarter valued at about $38,000. Finally, City Holding Co. bought a new stake in shares of BlackRock in the third quarter worth about $55,000. Institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In related news, Director Pamela Daley sold 1,531 shares of the stock in a transaction that occurred 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 directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,042 shares of company stock valued at $56,857,777. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Citigroup increased their price target on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. StockNews.com assumed coverage on BlackRock in a report on Sunday, October 20th. They issued a “hold” rating for the company. Wells Fargo & Company increased their price target on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, The Goldman Sachs Group increased their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $995.31.

BlackRock Stock Performance

Shares of NYSE BLK opened at $974.07 on Friday. The stock has a 50 day moving average price of $926.47 and a 200 day moving average price of $842.59. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $1,032.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The stock has a market capitalization of $144.75 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30.

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

About BlackRock

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.