Cozad Asset Management Inc. Acquires New Shares in BlackRock, Inc. (NYSE:BLK)

Cozad Asset Management Inc. bought a new position in shares of BlackRock, Inc. (NYSE:BLK) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 238 shares of the asset manager’s stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BLK. Fairscale Capital LLC bought a new stake in BlackRock during the 2nd quarter worth approximately $31,000. Reston Wealth Management LLC bought a new stake in shares of BlackRock during the third quarter worth $37,000. Chilton Capital Management LLC acquired a new stake in shares of BlackRock during the first quarter worth $38,000. MFA Wealth Advisors LLC lifted its position in BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares in the last quarter. Finally, Olistico Wealth LLC acquired a new position in BlackRock in the 2nd quarter worth $53,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Evercore ISI boosted their price target on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday. The Goldman Sachs Group boosted their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Argus raised their price target on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Finally, StockNews.com initiated coverage on shares of BlackRock in a research report on Tuesday. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,004.54.

Insider Activity

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $875.03, for a total transaction of $10,500,360.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,670,194.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 35,061 shares of company stock valued at $30,734,840 over the last ninety days. 0.90% of the stock is currently owned by company insiders.

BlackRock Trading Up 0.3 %

BlackRock stock opened at $1,039.28 on Friday. The stock has a 50-day simple moving average of $953.10 and a 200 day simple moving average of $860.23. The stock has a market capitalization of $153.95 billion, a P/E ratio of 25.65, a PEG ratio of 1.78 and a beta of 1.30. 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 $650.63 and a 52 week high of $1,057.51.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the previous year, the firm earned $10.91 EPS. The firm’s revenue was up 14.9% compared to the same quarter last year. Analysts expect that BlackRock, Inc. will post 42.94 earnings per share 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.