Rovin Capital UT ADV Takes $304,000 Position in BlackRock $BLK

Rovin Capital UT ADV bought a new position in shares of BlackRock (NYSE:BLK) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 289 shares of the asset manager’s stock, valued at approximately $304,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of BlackRock by 73.2% in the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after acquiring an additional 555,098 shares during the period. Vanguard Group Inc. boosted its stake in BlackRock by 2.9% in the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock valued at $13,027,419,000 after acquiring an additional 387,466 shares during the period. Goldman Sachs Group Inc. grew its position in BlackRock by 32.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after buying an additional 279,336 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in BlackRock during the 2nd quarter valued at about $231,000. Finally, Unisphere Establishment raised its holdings in shares of BlackRock by 29.2% during the first quarter. Unisphere Establishment now owns 839,500 shares of the asset manager’s stock valued at $794,570,000 after acquiring an additional 189,500 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BLK has been the topic of several research analyst reports. Cowen reiterated a “buy” rating on shares of BlackRock in a research report on Wednesday, October 15th. BMO Capital Markets lifted their price target on BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of BlackRock in a research report on Thursday, October 30th. Citigroup increased their price target on shares of BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Finally, TD Cowen increased their target price on shares of BlackRock from $1,301.00 to $1,407.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,299.29.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,070.02 on Friday. The stock has a market capitalization of $165.70 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 1.90 and a beta of 1.48. The firm has a fifty day moving average of $1,131.56 and a two-hundred day moving average of $1,066.45. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94.

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

Insider Buying and Selling

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the stock in a transaction on 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 completion of the sale, the director owned 7,205 shares in the company, valued at $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.98% of the company’s stock.

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.