Prospera Financial Services Inc Buys 663 Shares of BlackRock, Inc. (NYSE:BLK)

Prospera Financial Services Inc increased its stake in BlackRock, Inc. (NYSE:BLK) by 13.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,681 shares of the asset manager’s stock after acquiring an additional 663 shares during the period. Prospera Financial Services Inc’s holdings in BlackRock were worth $5,403,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Fairscale Capital LLC bought a new stake in BlackRock in the second quarter valued at approximately $31,000. Reston Wealth Management LLC bought a new stake in BlackRock during the 3rd quarter valued at $37,000. MFA Wealth Advisors LLC boosted its position in BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares during the period. Addison Advisors LLC grew its holdings in BlackRock by 81.5% in the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after acquiring an additional 22 shares during the last quarter. Finally, Olistico Wealth LLC purchased a new position in shares of BlackRock in the second quarter valued at about $53,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on BLK. Barclays upped their price target on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group upped their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Evercore ISI lifted their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, StockNews.com assumed coverage on shares of BlackRock in a research note on Wednesday, November 13th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Stock Down 2.1 %

BLK opened at $1,028.38 on Wednesday. The stock has a market capitalization of $159.27 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.87 and a beta of 1.30. The firm has a 50 day moving average price of $975.38 and a 200-day moving average price of $875.55. BlackRock, Inc. has a twelve month low of $712.11 and a twelve month high of $1,068.34. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

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