First National Bank Sioux Falls Invests $214,000 in BlackRock, Inc. (NYSE:BLK)

First National Bank Sioux Falls bought a new position in shares of BlackRock, Inc. (NYSE:BLK) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 225 shares of the asset manager’s stock, valued at approximately $214,000.

A number of other institutional investors have also modified their holdings of BLK. Axxcess Wealth Management LLC increased its holdings in BlackRock by 35.8% during the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after buying an additional 1,248 shares during the period. Cetera Investment Advisers increased its holdings in BlackRock by 219.5% during the first quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock valued at $36,737,000 after buying an additional 30,274 shares during the period. M&G Plc acquired a new stake in BlackRock in the first quarter valued at approximately $161,918,000. GAMMA Investing LLC boosted its stake in BlackRock by 62.8% in the second quarter. GAMMA Investing LLC now owns 2,291 shares of the asset manager’s stock valued at $1,804,000 after acquiring an additional 884 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in BlackRock by 17.2% in the first quarter. Daiwa Securities Group Inc. now owns 16,944 shares of the asset manager’s stock valued at $14,126,000 after acquiring an additional 2,485 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Up 0.4 %

BlackRock stock traded up $4.05 during mid-day trading on Friday, reaching $985.08. 792,041 shares of the company’s stock were exchanged, compared to its average volume of 571,688. The company has a market cap of $145.92 billion, a P/E ratio of 24.31, a P/E/G ratio of 1.76 and a beta of 1.30. BlackRock, Inc. has a twelve month low of $623.77 and a twelve month high of $1,032.00. 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 company has a fifty day moving average of $940.00 and a 200-day moving average of $851.56.

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

Insider Activity

In related news, Director Mark Wiedman sold 11,061 shares of BlackRock stock in a transaction on Monday, August 12th. The shares were sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the sale, the director now directly owns 6,480 shares in the company, valued at $5,527,116. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 11,061 shares of BlackRock stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,527,116. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,511 shares of company stock worth $55,568,552. 0.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on BLK shares. StockNews.com started coverage on shares of BlackRock in a research note on Monday, October 28th. They set a “hold” rating for the company. Wells Fargo & Company raised their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Morgan Stanley raised their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Argus lifted their price objective on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, The Goldman Sachs Group lifted their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $995.31.

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.