Oak Harbor Wealth Partners LLC Buys New Shares in BlackRock, Inc. (NYSE:BLK)

Oak Harbor Wealth Partners LLC bought a new stake in BlackRock, Inc. (NYSE:BLK) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 216 shares of the asset manager’s stock, valued at approximately $205,000.

Other institutional investors have also recently bought and sold shares of the company. Entropy Technologies LP bought a new stake in shares of BlackRock during the 1st quarter worth approximately $444,000. Tocqueville Asset Management L.P. increased its position in shares of BlackRock by 5.8% during the first quarter. Tocqueville Asset Management L.P. now owns 275 shares of the asset manager’s stock worth $229,000 after buying an additional 15 shares during the period. Banco Santander S.A. increased its position in shares of BlackRock by 0.3% during the first quarter. Banco Santander S.A. now owns 10,762 shares of the asset manager’s stock worth $8,972,000 after buying an additional 31 shares during the period. M&G Plc acquired a new stake in BlackRock in the first quarter worth $161,918,000. Finally, First Foundation Advisors grew its holdings in BlackRock by 8.4% in the first quarter. First Foundation Advisors now owns 3,347 shares of the asset manager’s stock worth $2,790,000 after purchasing an additional 260 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were 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 in the company, valued at approximately $5,832,000. This represents a 64.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BLK has been the topic of a number of recent research reports. TD Cowen raised their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Morgan Stanley lifted their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. StockNews.com started coverage on shares of BlackRock in a research report on Wednesday. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Stock Performance

BLK opened at $1,047.01 on Friday. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market cap of $155.09 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 1.84 and a beta of 1.30. The company’s 50 day moving average is $962.02 and its 200 day moving average is $866.74. BlackRock, Inc. has a 12-month low of $697.70 and a 12-month high of $1,068.34.

BlackRock (NYSE:BLK) last issued its quarterly earnings results 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 business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the previous year, the firm earned $10.91 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities research analysts predict that BlackRock, Inc. will post 43.17 EPS for the current year.

About BlackRock

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.