BlackRock $BLK Shares Bought by Reliant Investment Management LLC

Reliant Investment Management LLC grew its stake in BlackRock (NYSE:BLK) by 4.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,844 shares of the asset manager’s stock after acquiring an additional 208 shares during the quarter. BlackRock comprises approximately 2.2% of Reliant Investment Management LLC’s investment portfolio, making the stock its 27th biggest position. Reliant Investment Management LLC’s holdings in BlackRock were worth $5,083,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Garde Capital Inc. grew its holdings in shares of BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 18 shares during the period. Fairway Wealth LLC boosted its holdings in BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC grew its stake in shares of BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 15 shares during the period. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of BlackRock during the 2nd quarter worth approximately $34,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of BlackRock during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

BLK stock opened at $1,127.42 on Thursday. The business’s fifty day moving average price is $1,140.24 and its 200 day moving average price is $1,047.41. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,219.94. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $174.58 billion, a PE ratio of 28.99, a P/E/G ratio of 1.95 and a beta of 1.45.

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

Analyst Ratings Changes

A number of research firms recently commented on BLK. BMO Capital Markets upped their price objective on BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a report on Tuesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BlackRock in a research note on Wednesday, October 8th. UBS Group reissued a “hold” rating on shares of BlackRock in a research report on Tuesday. Wells Fargo & Company decreased their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 16th. Finally, Barclays increased their target price on shares of BlackRock from $1,310.00 to $1,360.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $1,299.29.

Insider Activity at BlackRock

In other news, CEO Laurence Fink sold 12,054 shares of the company’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the sale, the chief executive officer owned 251,697 shares of the company’s stock, valued at approximately $283,267,354.71. This represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares in the company, valued at approximately $68,763,964.50. The trade was a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,232 shares of company stock worth $67,055,346. Corporate insiders own 1.98% of the company’s stock.

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.