Concord Wealth Partners Increases Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Concord Wealth Partners boosted its position in BlackRock, Inc. (NYSE:BLK) by 3.0% during the third quarter, Holdings Channel.com reports. The fund owned 657 shares of the asset manager’s stock after purchasing an additional 19 shares during the quarter. Concord Wealth Partners’ holdings in BlackRock were worth $624,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC boosted its holdings in BlackRock by 35.8% in the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after acquiring an additional 1,248 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of BlackRock by 3.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock worth $322,810,000 after purchasing an additional 14,477 shares in the last quarter. Oak Harvest Investment Services purchased a new position in shares of BlackRock in the first quarter valued at $6,735,000. Cetera Investment Advisers boosted its holdings in BlackRock by 219.5% in the first quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock valued at $36,737,000 after purchasing an additional 30,274 shares during the last quarter. Finally, M&G Plc acquired a new stake in BlackRock during the 1st quarter valued at approximately $161,918,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares in the company, valued at approximately $298,272,703.50. This represents 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 accessible through this link. Also, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,042 shares of company stock valued at $56,857,777 over the last 90 days. 0.90% of the stock is owned by corporate insiders.

BlackRock Price Performance

NYSE BLK traded up $12.84 during trading hours on Monday, reaching $986.91. 88,621 shares of the company’s stock were exchanged, compared to its average volume of 571,440. The stock has a market cap of $146.65 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a one year low of $600.26 and a one year high of $1,032.00. The firm has a fifty day moving average of $928.50 and a 200-day moving average of $844.48. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the company earned $10.91 EPS. The firm’s revenue was up 14.9% on a year-over-year basis. On average, equities research analysts predict that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Citigroup increased their target price on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Evercore ISI increased their target price on BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. StockNews.com began coverage on shares of BlackRock in a research report on Monday. They issued a “hold” rating on the stock. Finally, TD Cowen lifted their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $995.31.

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.