Granite Harbor Advisors Inc. Acquires Shares of 233 BlackRock $BLK

Granite Harbor Advisors Inc. acquired a new stake in shares of BlackRock (NYSE:BLK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 233 shares of the asset manager’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BLK. Welch Group LLC raised its position in shares of BlackRock by 1.2% during the 2nd quarter. Welch Group LLC now owns 760 shares of the asset manager’s stock valued at $797,000 after buying an additional 9 shares in the last quarter. Stanley Laman Group Ltd. raised its position in BlackRock by 2.7% in the 2nd quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock worth $357,000 after purchasing an additional 9 shares during the period. McLean Asset Management Corp raised its position in BlackRock by 3.9% in the 2nd quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock worth $285,000 after purchasing an additional 10 shares during the period. Trust Co. of Oklahoma increased its position in shares of BlackRock by 0.5% during the second quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager’s stock worth $2,123,000 after acquiring an additional 10 shares during the period. Finally, TOWER TRUST & INVESTMENT Co increased its position in shares of BlackRock by 1.3% during the second quarter. TOWER TRUST & INVESTMENT Co now owns 799 shares of the asset manager’s stock worth $838,000 after acquiring an additional 10 shares during the period. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 0.2%

BLK stock opened at $1,127.42 on Thursday. The stock has a market capitalization of $174.58 billion, a P/E ratio of 28.99, a P/E/G ratio of 1.95 and a beta of 1.45. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94. The firm has a 50-day simple moving average of $1,140.24 and a 200-day simple moving average of $1,047.41. 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 announced its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The business 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 company posted $11.46 EPS. The firm’s revenue was up 25.2% on a year-over-year basis. Equities analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BLK. Loop Capital set a $1,255.00 price objective on shares of BlackRock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft set a $1,320.00 target price on shares of BlackRock and gave the company a “buy” rating in a research note on Wednesday, October 15th. Bank of America raised their target price on shares of BlackRock from $1,394.00 to $1,456.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Wells Fargo & Company lowered their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a research note on Wednesday, July 16th. Finally, Argus raised their target price 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. Seventeen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $1,299.29.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the transaction, the director owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. This trade represents a 21.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rachel Lord sold 12,000 shares of the 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 transaction, the director directly owned 7,205 shares of the company’s stock, valued at $8,394,113.20. The trade was a 62.48% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,232 shares of company stock valued at $67,055,346. Corporate insiders own 1.98% of the company’s stock.

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.