Centerpoint Advisory Group Acquires 275 Shares of BlackRock $BLK

Centerpoint Advisory Group lifted its holdings in shares of BlackRock (NYSE:BLK) by 31.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,144 shares of the asset manager’s stock after purchasing an additional 275 shares during the quarter. BlackRock accounts for approximately 1.0% of Centerpoint Advisory Group’s portfolio, making the stock its 23rd largest position. Centerpoint Advisory Group’s holdings in BlackRock were worth $1,200,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Game Plan Financial Advisors LLC raised its position in shares of BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 15 shares in the last quarter. Garde Capital Inc. raised its position in shares of BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after buying an additional 18 shares in the last quarter. Cheviot Value Management LLC bought a new position in BlackRock in the first quarter valued at $30,000. Whipplewood Advisors LLC increased its stake in BlackRock by 107.1% in the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 15 shares during the last quarter. Finally, Creekmur Asset Management LLC increased its stake in BlackRock by 87.5% in the second quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BLK shares. Cowen reiterated a “buy” rating on shares of BlackRock in a report on Wednesday, October 15th. Keefe, Bruyette & Woods boosted their target price on BlackRock from $1,215.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. The Goldman Sachs Group boosted their target price on BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. TD Cowen lifted their price target on shares of BlackRock from $1,301.00 to $1,407.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, Zacks Research downgraded shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,299.29.

BlackRock Price Performance

Shares of BlackRock stock opened at $1,073.29 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The business’s 50 day simple moving average is $1,132.77 and its two-hundred day simple moving average is $1,066.42. The stock has a market capitalization of $166.20 billion, a P/E ratio of 27.60, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48. BlackRock has a one year low of $773.74 and a one year high of $1,219.94.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) 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 firm had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter in the prior year, the business posted $11.46 EPS. The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. Analysts forecast that BlackRock will post 47.41 EPS for the current year.

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.