MJP Associates Inc. ADV Has $611,000 Stock Holdings in BlackRock $BLK

MJP Associates Inc. ADV lifted its holdings in shares of BlackRock (NYSE:BLK) by 12.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 582 shares of the asset manager’s stock after acquiring an additional 64 shares during the period. MJP Associates Inc. ADV’s holdings in BlackRock were worth $611,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in BlackRock by 2.9% during the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock worth $13,027,419,000 after acquiring an additional 387,466 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of BlackRock by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,143,429 shares of the asset manager’s stock valued at $3,281,641,000 after purchasing an additional 34,049 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of BlackRock by 73.2% during 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 purchasing an additional 555,098 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in BlackRock by 10.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager’s stock valued at $1,142,340,000 after purchasing an additional 111,694 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake 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 purchasing an additional 279,336 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BLK. Deutsche Bank Aktiengesellschaft cut their price objective on BlackRock from $1,312.00 to $1,305.00 and set a “buy” rating on the stock in a report on Friday. TD Cowen lifted their price target on BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. UBS Group reaffirmed a “hold” rating on shares of BlackRock in a research note on Tuesday, October 21st. Citigroup lifted their target price 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, BMO Capital Markets upped their price target on shares of BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,302.53.

Insider Buying and Selling

In other BlackRock news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction that occurred on Monday, October 20th. The stock was 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 directly owned 7,205 shares in the company, valued at approximately $8,394,113.20. The trade was a 62.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.98% of the stock is owned by corporate insiders.

BlackRock Trading Down 1.1%

BLK opened at $1,057.41 on Friday. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The company has a fifty day moving average of $1,127.37 and a 200-day moving average of $1,074.02. The stock has a market cap of $163.74 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39.

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). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The firm had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same period last year, the company posted $11.46 EPS. The business’s revenue was up 25.2% compared to the same quarter last year. On average, sell-side analysts predict that BlackRock will post 47.41 EPS for the current year.

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.