Lowe Brockenbrough & Co. Inc. Purchases 36 Shares of BlackRock, Inc. (NYSE:BLK)

Lowe Brockenbrough & Co. Inc. increased its holdings in BlackRock, Inc. (NYSE:BLK) by 1.1% in the third quarter, Holdings Channel reports. The fund owned 3,220 shares of the asset manager’s stock after purchasing an additional 36 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in BlackRock were worth $3,057,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BLK. Marino Stram & Associates LLC increased its holdings in BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after buying an additional 10 shares during the period. Onyx Bridge Wealth Group LLC increased its holdings in shares of BlackRock by 3.5% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after acquiring an additional 11 shares during the period. Ballentine Partners LLC raised its position in shares of BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock worth $3,251,000 after acquiring an additional 11 shares in the last quarter. XML Financial LLC lifted its stake in shares of BlackRock by 2.6% during the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after purchasing an additional 12 shares during the last quarter. Finally, Pine Haven Investment Counsel Inc boosted its position in BlackRock by 1.3% during the third quarter. Pine Haven Investment Counsel Inc now owns 937 shares of the asset manager’s stock valued at $890,000 after purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,511 shares of company stock worth $55,568,552 over the last quarter. 0.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Citigroup increased their price target on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Morgan Stanley raised their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Barclays upped their price target on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group raised their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods upped their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $995.31.

BlackRock Price Performance

Shares of NYSE BLK opened at $985.71 on Friday. BlackRock, Inc. has a 52 week low of $623.77 and a 52 week high of $1,032.00. The business’s 50 day moving average price is $940.00 and its 200 day moving average price is $850.84. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a market cap of $146.01 billion, a P/E ratio of 24.33, a P/E/G ratio of 1.76 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the prior year, the firm earned $10.91 EPS. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, sell-side analysts expect that BlackRock, Inc. will post 42.94 earnings per share for the current year.

BlackRock Company 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.