Ibex Wealth Advisors Makes New Investment in BlackRock $BLK

Ibex Wealth Advisors purchased a new stake in BlackRock (NYSE:BLK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,368 shares of the asset manager’s stock, valued at approximately $4,622,000.

A number of other large investors have also made changes to their positions in BLK. RMG Wealth Management LLC acquired a new position in BlackRock in the first quarter valued at about $25,000. Addison Advisors LLC bought a new stake in shares of BlackRock in the second quarter worth about $25,000. Kelly Lawrence W & Associates Inc. CA bought a new stake in shares of BlackRock in the second quarter worth about $25,000. Meeder Asset Management Inc. acquired a new stake in shares of BlackRock during the second quarter worth about $30,000. Finally, Putney Financial Group LLC acquired a new stake in shares of BlackRock during the third quarter worth about $32,000. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other BlackRock news, Director Rachel Lord sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $1,219.55, for a total value of $8,536,850.00. Following the sale, the director owned 6,065 shares in the company, valued at approximately $7,396,570.75. The trade was a 53.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.92% of the company’s stock.

Recent BlackRock Headlines

Here are a few of the latest headlines about BLK:

• Positive Sentiment: BlackRock’s private-markets expansion, acquisitions and record $15.49 trillion in assets under management are cited as growth drivers. The caveat: rising expenses could temper the benefit. Article: BlackRock’s Private Markets Expansion
• Positive Sentiment: BlackRock beat quarterly earnings and revenue estimates, with revenue up 19.1% year over year. Shares have gained 8.6% since that report, indicating a favorable market response. Article: Why Is BlackRock Up Since Last Earnings Report?
• Negative Sentiment: Director Rachel Lord sold 7,000 shares, cutting her reported stake by 53.58%. The filing does not explain the reason for the sale, but insider selling can weigh on sentiment. SEC filing: BlackRock Form 4

Analyst Ratings Changes

BLK has been the topic of several recent analyst reports. BMO Capital Markets lifted their price objective on BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a report on Monday, October 19th. Weiss Ratings raised BlackRock from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, November 2nd. The Goldman Sachs Group lowered their target price on BlackRock from $1,389.00 to $1,346.00 and set a “buy” rating for the company in a research note on Friday, October 2nd. Zacks Research downgraded shares of BlackRock from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Finally, Jefferies Financial Group restated a “buy” rating and set a $1,341.00 target price on shares of BlackRock in a report on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,342.25.

BlackRock Stock Up 0.4%

Shares of BLK traded up $5.21 during midday trading on Friday, hitting $1,221.82. The stock had a trading volume of 415,883 shares, compared to its average volume of 703,448. The company has a 50 day simple moving average of $1,113.42 and a two-hundred day simple moving average of $1,067.86. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,242.12. The firm has a market cap of $188.67 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 1.26 and a beta of 1.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.44 and a quick ratio of 3.44.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, beating analysts’ consensus estimates of $14.32 by $1.61. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.42 billion. BlackRock had a return on equity of 15.60% and a net margin of 24.22%. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the company posted $8.43 earnings per share. On average, analysts anticipate that BlackRock will post 57.82 EPS for the current year.

BlackRock Company Profile

BlackRock, Inc. is a global investment management and financial technology company serving individuals, institutions, governments and other organizations. Founded in 1988, the company is headquartered in New York City and operates in markets around the world. BlackRock offers investment products and services across asset classes, including equities, fixed income, cash management and alternative investments. Its offerings include exchange-traded funds and other funds under the iShares brand, as well as portfolio management, investment advisory and risk management services.