1ST Source Bank Raises Stock Holdings in BlackRock $BLK

1ST Source Bank boosted its position in BlackRock (NYSE:BLK) by 6.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,069 shares of the asset manager’s stock after purchasing an additional 62 shares during the quarter. 1ST Source Bank’s holdings in BlackRock were worth $1,122,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BLK. Sound View Wealth Advisors Group LLC boosted its stake in BlackRock by 1.2% during the second quarter. Sound View Wealth Advisors Group LLC now owns 1,460 shares of the asset manager’s stock worth $1,532,000 after acquiring an additional 17 shares in the last quarter. Rathbones Group PLC lifted its holdings in shares of BlackRock by 7.1% during the second quarter. Rathbones Group PLC now owns 58,015 shares of the asset manager’s stock valued at $60,872,000 after purchasing an additional 3,843 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of BlackRock by 60.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,830 shares of the asset manager’s stock valued at $55,432,000 after purchasing an additional 19,846 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of BlackRock by 7.9% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 290,485 shares of the asset manager’s stock worth $304,791,000 after purchasing an additional 21,251 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in shares of BlackRock by 5.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 841 shares of the asset manager’s stock worth $882,000 after buying an additional 47 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BLK shares. Jefferies Financial Group lifted their price objective on BlackRock from $1,196.00 to $1,325.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Morgan Stanley lifted their price target on BlackRock from $1,362.00 to $1,486.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Evercore ISI upped their price target on shares of BlackRock from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday. Argus raised their price objective on shares of BlackRock from $1,165.00 to $1,330.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Keefe, Bruyette & Woods upped their target price on shares of BlackRock from $1,215.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Seventeen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $1,303.41.

Insider Buying and Selling at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the transaction, the director directly owned 7,205 shares in the company, valued at $8,394,113.20. This trade represents a 62.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.98% of the stock is owned by insiders.

BlackRock Stock Performance

Shares of NYSE BLK opened at $1,081.66 on Friday. The firm’s 50-day moving average price is $1,130.62 and its 200-day moving average price is $1,069.28. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,219.94. The company has a market cap of $167.50 billion, a PE ratio of 27.81, a PEG ratio of 1.90 and a beta of 1.48. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The company had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter last year, the company earned $11.46 EPS. The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. As a group, analysts anticipate that BlackRock will post 47.41 EPS 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.