Massachusetts Financial Services Co. MA Purchases 73,665 Shares of BlackRock $BLK

Massachusetts Financial Services Co. MA boosted its position in BlackRock (NYSE:BLK) by 7.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,070,435 shares of the asset manager’s stock after acquiring an additional 73,665 shares during the period. Massachusetts Financial Services Co. MA’s holdings in BlackRock were worth $1,123,154,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BLK. Garde Capital Inc. lifted 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 worth $28,000 after buying an additional 18 shares in the last quarter. Whipplewood Advisors LLC boosted its holdings in shares of BlackRock by 107.1% in the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after purchasing an additional 15 shares in the last quarter. Game Plan Financial Advisors LLC grew its position in BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 15 shares during the last quarter. Creekmur Asset Management LLC raised its position in BlackRock by 87.5% in the 2nd quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock worth $32,000 after purchasing an additional 14 shares during the period. Finally, Mid American Wealth Advisory Group Inc. bought a new position in shares of BlackRock during the second quarter valued at about $34,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.98% of the stock is owned by company insiders.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,057.41 on Friday. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94. The business has a fifty day moving average price of $1,127.37 and a 200-day moving average price of $1,074.02. The company has a market capitalization of $163.74 billion, a PE ratio of 27.19, a PEG ratio of 1.90 and a beta of 1.48. 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 (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 the consensus estimate of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The business had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. During the same quarter in the prior year, the firm earned $11.46 EPS. The firm’s revenue for the quarter was up 25.2% compared to the same quarter last year. As a group, equities analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

Analysts Set New Price Targets

BLK has been the topic of several analyst reports. UBS Group reaffirmed a “hold” rating on shares of BlackRock in a research note on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of BlackRock from $1,312.00 to $1,305.00 and set a “buy” rating for the company in a research note on Friday. Citigroup lifted their price objective on BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Loop Capital set a $1,255.00 target price on BlackRock in a report on Tuesday, October 21st. Finally, BNP Paribas Exane upped their price objective on shares of BlackRock from $1,160.00 to $1,265.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,302.53.

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.