Radnor Capital Management LLC Acquires 344 Shares of BlackRock, Inc. (NYSE:BLK)

Radnor Capital Management LLC boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 17.2% during the third quarter, Holdings Channel.com reports. The fund owned 2,339 shares of the asset manager’s stock after acquiring an additional 344 shares during the quarter. Radnor Capital Management LLC’s holdings in BlackRock were worth $2,221,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norden Group LLC boosted its position in BlackRock by 38.5% in the 1st quarter. Norden Group LLC now owns 648 shares of the asset manager’s stock worth $540,000 after purchasing an additional 180 shares in the last quarter. Nordea Investment Management AB boosted its holdings in BlackRock by 5.2% during the 1st quarter. Nordea Investment Management AB now owns 10,742 shares of the asset manager’s stock valued at $8,992,000 after acquiring an additional 529 shares during the period. FORA Capital LLC purchased a new position in BlackRock during the 1st quarter valued at about $255,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of BlackRock by 31.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,706 shares of the asset manager’s stock valued at $2,256,000 after buying an additional 654 shares during the period. Finally, Larson Financial Group LLC boosted its stake in shares of BlackRock by 161.0% in the 1st quarter. Larson Financial Group LLC now owns 381 shares of the asset manager’s stock valued at $318,000 after buying an additional 235 shares during the period. Institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $875.03, for a total value of $10,500,360.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,670,194.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 35,061 shares of company stock worth $30,734,840 over the last three months. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BLK shares. Citigroup raised their target price on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. TD Cowen lifted their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their target price on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Barclays boosted their price target on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. boosted 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. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $995.31.

BlackRock Stock Up 2.3 %

NYSE BLK opened at $1,013.87 on Wednesday. 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 $646.91 and a 52 week high of $1,032.00. The stock has a fifty day moving average of $944.72 and a 200-day moving average of $855.82. The stock has a market capitalization of $150.18 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 1.77 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the previous year, the company posted $10.91 earnings per share. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, equities research analysts forecast that BlackRock, Inc. will post 42.94 EPS for the current 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.