BlackRock $BLK Shares Bought by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC boosted its position in shares of BlackRock (NYSE:BLK) by 39.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 858 shares of the asset manager’s stock after acquiring an additional 243 shares during the quarter. Resonant Capital Advisors LLC’s holdings in BlackRock were worth $900,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in BLK. Fairway Wealth LLC increased its position in BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after buying an additional 13 shares during the period. Game Plan Financial Advisors LLC increased its holdings in shares of BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 15 shares during the period. Garde Capital Inc. increased 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. Cheviot Value Management LLC acquired a new position in shares of BlackRock in the first quarter valued at approximately $30,000. Finally, Whipplewood Advisors LLC increased its holdings in shares of BlackRock by 107.1% in the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 15 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Up 1.2%

BlackRock stock opened at $1,138.60 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94. The company has a market cap of $176.32 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 1.97 and a beta of 1.45. The stock’s 50 day moving average price is $1,139.57 and its 200 day moving average price is $1,054.51.

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

Wall Street Analysts Forecast Growth

BLK has been the topic of a number of recent research reports. Citigroup boosted their target price on BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a report on Monday, September 29th. Cowen reissued a “buy” rating on shares of BlackRock in a report on Wednesday, October 15th. Telsey Advisory Group reissued an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. BNP Paribas Exane boosted their target price on BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Finally, JPMorgan Chase & Co. boosted their target price on BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Seventeen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,299.29.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the business’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the sale, the director owned 7,205 shares in the company, valued at approximately $8,394,113.20. The trade was a 62.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

About BlackRock

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.