Live Oak Private Wealth LLC Has $1.25 Million Stock Position in BlackRock $BLK

Live Oak Private Wealth LLC grew its holdings in shares of BlackRock (NYSE:BLK) by 8.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,191 shares of the asset manager’s stock after buying an additional 95 shares during the quarter. Live Oak Private Wealth LLC’s holdings in BlackRock were worth $1,250,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fairway Wealth LLC grew its holdings in shares of BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC boosted its holdings in BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 15 shares during the last quarter. Garde Capital Inc. boosted its holdings in BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after purchasing an additional 18 shares during the last quarter. Cheviot Value Management LLC purchased a new position in BlackRock during the first quarter worth about $30,000. Finally, Whipplewood Advisors LLC boosted its holdings in BlackRock by 107.1% during the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after purchasing an additional 15 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the transaction, the director directly owned 7,205 shares in the company, valued at $8,394,113.20. The trade was a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.98% of the stock is currently owned by insiders.

BlackRock Stock Down 2.3%

BLK opened at $1,098.88 on Thursday. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The stock has a market cap of $170.16 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 1.95 and a beta of 1.45. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The company’s 50-day moving average price is $1,138.79 and its two-hundred day moving average price is $1,059.55.

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 analysts’ consensus estimates of $11.78 by ($0.23). The company 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 revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $11.46 earnings per share. As a group, equities analysts expect that BlackRock will post 47.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BLK. Argus boosted their price target on shares of BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Telsey Advisory Group restated an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. Loop Capital set a $1,255.00 price target on shares of BlackRock in a report on Tuesday, October 21st. Citigroup boosted their price target on shares of BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Finally, Morgan Stanley boosted their price target on shares of BlackRock from $1,362.00 to $1,486.00 and gave the stock an “overweight” rating in a report 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,299.29.

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.