Miller Investment Management LP Invests $221,000 in BlackRock $BLK

Miller Investment Management LP acquired a new stake in BlackRock (NYSE:BLK) in the second quarter, HoldingsChannel reports. The firm acquired 211 shares of the asset manager’s stock, valued at approximately $221,000.

Other hedge funds have also recently bought and sold shares of the company. Welch Group LLC grew its stake in BlackRock by 1.2% in the 2nd quarter. Welch Group LLC now owns 760 shares of the asset manager’s stock worth $797,000 after acquiring an additional 9 shares during the period. Stanley Laman Group Ltd. boosted its holdings in shares of BlackRock by 2.7% during the second 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 last quarter. CNB Bank boosted its holdings in shares of BlackRock by 9.6% during the second quarter. CNB Bank now owns 103 shares of the asset manager’s stock worth $108,000 after purchasing an additional 9 shares during the last quarter. McLean Asset Management Corp grew its position in shares of BlackRock by 3.9% in the second quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 10 shares during the period. Finally, Trust Co. of Oklahoma increased its stake in BlackRock by 0.5% in the second quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager’s stock valued at $2,123,000 after purchasing an additional 10 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Up 1.1%

Shares of NYSE:BLK opened at $1,081.66 on Friday. The stock has a 50-day simple moving average of $1,130.62 and a 200-day simple moving average of $1,068.02. The stock has a market capitalization of $167.50 billion, a P/E ratio of 27.81, a PEG ratio of 1.90 and a beta of 1.48. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94. 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 (NYSE:BLK) last announced 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). 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 analyst estimates of $6.22 billion. During the same period last year, the firm earned $11.46 earnings per share. The company’s quarterly 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 year.

Insider Buying and Selling at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the completion of the sale, the director directly owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on BLK. Deutsche Bank Aktiengesellschaft set a $1,320.00 target price on BlackRock and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of BlackRock in a research note on Thursday, October 30th. The Goldman Sachs Group raised their target price on shares of BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. BNP Paribas Exane boosted their target price on shares of BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Finally, Cowen reaffirmed a “buy” rating on shares of BlackRock in a research report on Wednesday, October 15th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,299.29.

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.