Ashton Thomas Private Wealth LLC Has $9.24 Million Stake in BlackRock $BLK

Ashton Thomas Private Wealth LLC increased its position in BlackRock (NYSE:BLK) by 1.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,804 shares of the asset manager’s stock after purchasing an additional 161 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in BlackRock were worth $9,238,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Garde Capital Inc. boosted its stake in shares of BlackRock by 200.0% during the 2nd 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 period. Whipplewood Advisors LLC boosted its stake in shares of BlackRock by 107.1% during the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after buying an additional 15 shares during the period. Fairway Wealth LLC boosted its stake in shares of BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 13 shares during the period. Game Plan Financial Advisors LLC boosted its stake in shares of BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 15 shares during the period. Finally, Mid American Wealth Advisory Group Inc. acquired a new stake in shares of BlackRock during the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BLK. Morgan Stanley lifted their target price 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. Barclays lifted their target price on shares of BlackRock from $1,310.00 to $1,360.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Citigroup raised their price target on shares of BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a report on Monday, September 29th. UBS Group restated a “hold” rating on shares of BlackRock in a report on Tuesday, October 21st. Finally, Loop Capital set a $1,255.00 price target on shares of BlackRock in a report on Tuesday, October 21st. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average price target of $1,299.29.

Insider Buying and Selling at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the transaction, the director owned 7,205 shares in the company, valued at $8,394,113.20. This trade represents a 62.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction on Wednesday, July 30th. The stock was 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 owned 61,369 shares in the company, valued at $68,763,964.50. This trade represents a 21.83% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

BlackRock Stock Performance

Shares of BLK opened at $1,138.60 on Monday. The company has a market capitalization of $176.32 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 1.97 and a beta of 1.45. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The company’s fifty day moving average price is $1,139.57 and its 200 day moving average price is $1,054.51.

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