Jmac Enterprises LLC Acquires 18 Shares of BlackRock, Inc. (NYSE:BLK)

Jmac Enterprises LLC lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,094 shares of the asset manager’s stock after acquiring an additional 18 shares during the period. Jmac Enterprises LLC’s holdings in BlackRock were worth $1,988,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Cozad Asset Management Inc. purchased a new stake in BlackRock in the 3rd quarter valued at $226,000. Advisor Resource Council purchased a new stake in shares of BlackRock in the third quarter valued at about $347,000. Graypoint LLC lifted its position in shares of BlackRock by 8.3% during the third quarter. Graypoint LLC now owns 1,473 shares of the asset manager’s stock valued at $1,399,000 after purchasing an additional 113 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC purchased a new position in BlackRock during the third quarter worth about $1,119,000. Finally, D.B. Root & Company LLC increased its stake in BlackRock by 16.1% in the 3rd quarter. D.B. Root & Company LLC now owns 548 shares of the asset manager’s stock valued at $520,000 after buying an additional 76 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Up 1.0 %

Shares of BLK stock opened at $1,040.00 on Thursday. The business’s fifty day moving average is $947.54 and its 200 day moving average is $857.04. The company has a market capitalization of $154.06 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 1.77 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a 52-week low of $648.43 and a 52-week high of $1,057.51.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.91 EPS. On average, equities research analysts anticipate that BlackRock, Inc. will post 42.94 EPS for the current fiscal year.

Insider Activity

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $875.03, for a total transaction of $10,500,360.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,670,194.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 35,061 shares of company stock worth $30,734,840. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BLK. Barclays upped their target price on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their target price on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Wells Fargo & Company increased their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. 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. Finally, The Goldman Sachs Group lifted their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,004.54.

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.