Empower Advisory Group LLC Grows Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Empower Advisory Group LLC grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 91.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 736 shares of the asset manager’s stock after acquiring an additional 352 shares during the period. Empower Advisory Group LLC’s holdings in BlackRock were worth $699,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Marino Stram & Associates LLC raised its stake in BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after buying an additional 10 shares during the last quarter. Onyx Bridge Wealth Group LLC increased its holdings in shares of BlackRock by 3.5% during the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after acquiring an additional 11 shares in the last quarter. Ballentine Partners LLC raised its position in shares of BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock worth $3,251,000 after purchasing an additional 11 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in BlackRock by 0.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after purchasing an additional 11 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in BlackRock by 0.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock valued at $1,447,000 after purchasing an additional 11 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

BlackRock Price Performance

NYSE BLK opened at $1,047.01 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The business’s fifty day moving average is $962.02 and its 200 day moving average is $866.74. The company has a market capitalization of $155.09 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 1.85 and a beta of 1.30. BlackRock, Inc. has a fifty-two week low of $697.70 and a fifty-two week high of $1,068.34.

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 analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the previous year, the company posted $10.91 EPS. The firm’s revenue was up 14.9% on a year-over-year basis. Sell-side analysts predict that BlackRock, Inc. will post 43.17 earnings per share for the current year.

Analyst Ratings Changes

BLK has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday. Wells Fargo & Company boosted their price target on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Barclays increased their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group boosted their target price on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Morgan Stanley boosted their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Three equities 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.62.

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.