Schrum Private Wealth Management LLC Buys New Position in BlackRock, Inc. (NYSE:BLK)

Schrum Private Wealth Management LLC purchased a new position in BlackRock, Inc. (NYSE:BLK) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 282 shares of the asset manager’s stock, valued at approximately $268,000.

Several other large investors also recently bought and sold shares of BLK. Vanguard Group Inc. grew its holdings in BlackRock by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after purchasing an additional 292,017 shares in the last quarter. Capital Research Global Investors grew its stake in shares of BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after acquiring an additional 435,358 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of BlackRock by 2.9% during the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after acquiring an additional 46,728 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of BlackRock by 1.9% in the second quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after acquiring an additional 22,311 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted its holdings in BlackRock by 89,389.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after purchasing an additional 1,044,962 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of BLK opened at $1,030.86 on Thursday. 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 company has a market cap of $152.70 billion, a P/E ratio of 25.44, a PEG ratio of 1.85 and a beta of 1.30. BlackRock, Inc. has a 12 month low of $673.00 and a 12 month high of $1,068.34. The stock has a fifty day moving average price of $959.13 and a 200 day moving average price of $865.58.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same period last year, the firm posted $10.91 EPS. BlackRock’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, research analysts forecast that BlackRock, Inc. will post 43.17 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BLK shares. TD Cowen lifted their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Morgan Stanley lifted their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. The Goldman Sachs Group increased their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Barclays boosted their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. lifted their price target on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $1,019.62.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

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.