Signature Estate & Investment Advisors LLC Increases Holdings in BlackRock, Inc. (NYSE:BLK)

Signature Estate & Investment Advisors LLC lifted its stake in BlackRock, Inc. (NYSE:BLK) by 16.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,265 shares of the asset manager’s stock after buying an additional 3,511 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in BlackRock were worth $23,040,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Fairscale Capital LLC bought a new position in shares of BlackRock in the 2nd quarter worth approximately $31,000. Reston Wealth Management LLC bought a new stake in shares of BlackRock in the third quarter worth $37,000. MFA Wealth Advisors LLC lifted its position in BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares in the last quarter. Addison Advisors LLC lifted its stake in shares of BlackRock by 81.5% during the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after buying an additional 22 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in BlackRock during the 3rd quarter valued at approximately $54,000. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

BLK has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Evercore ISI boosted their target price on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company increased their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Barclays lifted their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, TD Cowen boosted their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.62.

BlackRock Price 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 firm 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 stock’s 50-day moving average price is $962.02 and its 200 day moving average price 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 released its quarterly earnings data 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 net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the previous year, the company earned $10.91 EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, sell-side analysts expect 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.