BlackRock, Inc. (NYSE:BLK) Shares Bought by Essex Savings Bank

Essex Savings Bank raised its position in BlackRock, Inc. (NYSE:BLK) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,903 shares of the asset manager’s stock after acquiring an additional 46 shares during the quarter. Essex Savings Bank’s holdings in BlackRock were worth $1,807,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after buying an additional 292,017 shares during the period. Capital Research Global Investors increased its holdings in BlackRock by 11.1% in the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after buying an additional 435,358 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in BlackRock by 2.9% in the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after buying an additional 46,728 shares in the last quarter. Legal & General Group Plc increased its holdings in BlackRock by 1.9% in the second quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after buying an additional 22,311 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its holdings in BlackRock by 89,389.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after buying an additional 1,044,962 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Morgan Stanley upped their price objective 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. Citigroup upped their price objective on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. StockNews.com began coverage on shares of BlackRock in a research note on Tuesday, November 5th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,004.54.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $875.03, for a total value of $10,500,360.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,670,194.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 35,061 shares of company stock worth $30,734,840. 0.90% of the stock is owned by company insiders.

BlackRock Trading Up 0.3 %

Shares of NYSE:BLK opened at $1,039.28 on Friday. BlackRock, Inc. has a 52 week low of $650.63 and a 52 week high of $1,057.51. The company’s 50 day moving average is $953.10 and its two-hundred day moving average is $860.23. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market cap of $153.95 billion, a PE ratio of 25.65, a P/E/G ratio of 1.85 and a beta of 1.30.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping 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 firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the business earned $10.91 EPS. BlackRock’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities analysts predict that BlackRock, Inc. will post 42.94 earnings per share for the current fiscal 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.