Caprock Group LLC Raises Holdings in BlackRock, Inc. (NYSE:BLK)

Caprock Group LLC grew its stake in BlackRock, Inc. (NYSE:BLK) by 8.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,638 shares of the asset manager’s stock after buying an additional 294 shares during the quarter. Caprock Group LLC’s holdings in BlackRock were worth $3,455,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pathway Financial Advisers LLC raised its holdings in shares of BlackRock by 89,389.4% in the 3rd 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 in the last quarter. International Assets Investment Management LLC raised its stake in BlackRock by 104,468.9% in the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock valued at $7,526,120,000 after buying an additional 791,874 shares in the last quarter. Capital Research Global Investors lifted its holdings in BlackRock by 11.1% during the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after buying an additional 435,358 shares during the last quarter. Sarasin & Partners LLP boosted its position in shares of BlackRock by 174.8% during the 2nd quarter. Sarasin & Partners LLP now owns 184,291 shares of the asset manager’s stock worth $145,096,000 after acquiring an additional 117,218 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of BlackRock in the 1st quarter valued at about $86,282,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLK has been the subject of a number of research analyst reports. Morgan Stanley upped their price target on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Evercore ISI increased their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. TD Cowen lifted their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. raised their price objective on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, StockNews.com started coverage on BlackRock in a report on Wednesday, November 13th. They issued a “hold” rating for the company. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to 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 that occurred on 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 sale, the director now directly owns 6,480 shares in the company, valued at $5,832,000. The trade was 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 link. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Trading Down 2.1 %

NYSE:BLK opened at $1,028.38 on Wednesday. BlackRock, Inc. has a 12-month low of $712.11 and a 12-month high of $1,068.34. 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 stock’s 50 day simple moving average is $975.38 and its 200-day simple moving average is $875.55. The firm has a market cap of $159.28 billion, a P/E ratio of 25.38, a PEG ratio of 1.87 and a beta of 1.30.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) 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 company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the previous year, the company posted $10.91 EPS. BlackRock’s revenue was up 14.9% compared to the same quarter last year. Equities analysts anticipate 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.