BlackRock $BLK Stock Bought by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. increased its position in BlackRock (NYSE:BLK) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,529 shares of the asset manager’s stock after buying an additional 1,890 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in BlackRock were worth $68,340,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Santa Clara Valley Transportation Authority bought a new position in BlackRock in the second quarter worth approximately $129,138,253,000. BlackRock Inc. acquired a new stake in BlackRock in the second quarter valued at approximately $9,747,857,000. Temasek Holdings Private Ltd grew its stake in BlackRock by 4.7% in the first quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager’s stock valued at $5,126,387,000 after acquiring an additional 237,667 shares during the period. Bank of America Corp DE increased its holdings in shares of BlackRock by 0.7% during the first quarter. Bank of America Corp DE now owns 5,232,973 shares of the asset manager’s stock valued at $5,032,603,000 after acquiring an additional 35,069 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of BlackRock by 23.3% during the second quarter. Wellington Management Group LLP now owns 4,495,074 shares of the asset manager’s stock valued at $4,322,283,000 after acquiring an additional 850,406 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Price Performance

BLK stock opened at $1,216.48 on Friday. The company has a market capitalization of $188.40 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 1.27 and a beta of 1.37. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.44 and a current ratio of 3.44. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,242.12. The business has a 50-day simple moving average of $1,111.47 and a two-hundred day simple moving average of $1,067.29.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, topping analysts’ consensus estimates of $14.32 by $1.61. The firm had revenue of $7.75 billion during 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 revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the previous year, the company posted $8.43 EPS. Research analysts expect that BlackRock will post 57.82 EPS for the current fiscal year.

BlackRock News Roundup

Here’s some of the latest news about BLK:

• Positive Sentiment: BlackRock’s expansion in private markets, strategic acquisitions and record $15.49 trillion in assets under management are cited as potential long-term growth drivers, though rising expenses could temper the benefit. Article: BlackRock’s Private Markets Expansion: A Key Long-Term Growth Driver?
• Neutral Sentiment: BlackRock’s participation in a London forum on Ethereum reflects institutional interest in tokenization and blockchain settlement, but the report describes discussion rather than a specific business announcement. Article: Ethereum Draws Wall Street Attention As BlackRock And JPMorgan Join London Forum
• Negative Sentiment: Director Rachel Lord sold 7,000 shares, reducing her reported ownership by 53.58%. Insider sales can raise concern, although the filing does not establish the reason for the transaction. SEC filing: BlackRock Form 4

Insider Buying and Selling at BlackRock

In related news, Director Rachel Lord sold 7,000 shares of BlackRock 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 transaction of $8,536,850.00. Following the transaction, the director owned 6,065 shares of the company’s stock, valued at $7,396,570.75. The trade was a 53.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.92% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. UBS Group upped their target price on BlackRock from $1,277.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, October 15th. Weiss Ratings raised shares of BlackRock from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, November 2nd. BMO Capital Markets lifted their price target on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a research report on Monday, October 19th. Bank of America decreased their price target on shares of BlackRock from $1,320.00 to $1,287.00 in a research note on Monday, October 5th. Finally, Wells Fargo & Company upped their price objective on shares of BlackRock from $1,230.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. One research 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,342.25.

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.