Allworth Financial LP Increases Holdings in BlackRock $BLK

Allworth Financial LP boosted its position in BlackRock (NYSE:BLK) by 12.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,663 shares of the asset manager’s stock after buying an additional 301 shares during the period. Allworth Financial LP’s holdings in BlackRock were worth $2,794,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Royal Bank of Canada boosted its holdings in shares of BlackRock by 73.2% in the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after acquiring an additional 555,098 shares during the last quarter. Vanguard Group Inc. lifted its position in BlackRock by 2.9% during the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock valued at $13,027,419,000 after purchasing an additional 387,466 shares during the period. Goldman Sachs Group Inc. boosted its holdings in BlackRock by 32.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after purchasing an additional 279,336 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in BlackRock in the second quarter valued at $231,000. Finally, Unisphere Establishment grew its position in BlackRock by 29.2% during the 1st quarter. Unisphere Establishment now owns 839,500 shares of the asset manager’s stock worth $794,570,000 after purchasing an additional 189,500 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the subject of several analyst reports. TD Cowen boosted their price objective on BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. BMO Capital Markets boosted their price target on BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Morgan Stanley upped their price objective 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. Keefe, Bruyette & Woods lifted their target price on shares of BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Finally, Evercore ISI boosted their target price on shares of BlackRock from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,303.41.

Insider Buying and Selling

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the completion of the sale, the director directly owned 7,205 shares in the company, valued at approximately $8,394,113.20. The trade was a 62.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.98% of the company’s stock.

BlackRock Price Performance

BlackRock stock opened at $1,093.04 on Thursday. The stock has a market capitalization of $169.26 billion, a P/E ratio of 28.11, a P/E/G ratio of 1.90 and a beta of 1.48. The company’s fifty day moving average price is $1,129.00 and its 200 day moving average price is $1,073.06. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94.

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

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.