Reliant Investment Management LLC Raises Stake in BlackRock $BLK

Reliant Investment Management LLC raised its position in BlackRock (NYSE:BLK) by 4.5% during the second quarter, HoldingsChannel reports. The firm owned 4,844 shares of the asset manager’s stock after buying an additional 208 shares during the quarter. BlackRock accounts for 2.2% of Reliant Investment Management LLC’s holdings, making the stock its 27th biggest position. Reliant Investment Management LLC’s holdings in BlackRock were worth $5,083,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Garde Capital Inc. increased its holdings in BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after buying an additional 18 shares during the last quarter. Fairway Wealth LLC boosted its position in shares of BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC increased its holdings in shares of BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 15 shares during the last quarter. Mid American Wealth Advisory Group Inc. purchased a new position in shares of BlackRock in the 2nd quarter valued at about $34,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in BlackRock during the first quarter worth approximately $31,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Price Performance

Shares of BLK opened at $1,127.42 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,219.94. The firm has a 50-day simple moving average of $1,140.24 and a 200-day simple moving average of $1,047.41. The company has a market capitalization of $174.58 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 1.95 and a beta of 1.45.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The company had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.22 billion. During the same quarter last year, the firm earned $11.46 EPS. The business’s revenue was up 25.2% on a year-over-year basis. On average, equities research analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley increased their price target on shares of BlackRock from $1,362.00 to $1,486.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. UBS Group reaffirmed a “hold” rating on shares of BlackRock in a research report on Tuesday. TD Cowen lifted their price target on shares of BlackRock from $1,301.00 to $1,407.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Argus raised their price objective on BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, Jefferies Financial Group boosted their target price on BlackRock from $1,196.00 to $1,325.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $1,299.29.

Insider Transactions at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the completion of the sale, the director directly owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director J. Richard Kushel sold 17,142 shares of the business’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the transaction, the director directly owned 61,369 shares in the company, valued at $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,232 shares of company stock worth $67,055,346 over the last 90 days. 1.98% of the stock is currently owned by insiders.

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.