Chilton Capital Management LLC Raises Position in BlackRock $BLK

Chilton Capital Management LLC increased its holdings in BlackRock (NYSE:BLK) by 16,400.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 165 shares of the asset manager’s stock after buying an additional 164 shares during the period. Chilton Capital Management LLC’s holdings in BlackRock were worth $173,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BLK. Royal Bank of Canada raised its position in BlackRock by 73.2% during the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after purchasing an additional 555,098 shares in the last quarter. Vanguard Group Inc. raised its position in BlackRock by 2.9% during the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock valued at $13,027,419,000 after purchasing an additional 387,466 shares in the last quarter. Goldman Sachs Group Inc. raised its position in BlackRock by 32.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after purchasing an additional 279,336 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in BlackRock during the second quarter valued at about $231,000. Finally, Unisphere Establishment raised its position in BlackRock by 29.2% during the first quarter. Unisphere Establishment now owns 839,500 shares of the asset manager’s stock valued at $794,570,000 after purchasing an additional 189,500 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of the firm’s 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 transaction, the director directly owned 7,205 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of the firm’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the transaction, the director owned 61,369 shares of the company’s stock, valued at $68,763,964.50. The trade was a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

BlackRock Stock Up 1.2%

NYSE BLK opened at $1,138.60 on Monday. The business’s 50-day moving average is $1,139.57 and its 200 day moving average is $1,054.51. 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 stock has a market capitalization of $176.32 billion, a PE ratio of 29.28, a PEG ratio of 1.97 and a beta of 1.45. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing the consensus estimate of $11.78 by ($0.23). The firm had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The business’s revenue was up 25.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $11.46 earnings per share. Sell-side analysts forecast that BlackRock will post 47.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BLK shares. UBS Group restated a “hold” rating on shares of BlackRock in a research report on Tuesday, October 21st. Morgan Stanley raised their price target on BlackRock from $1,362.00 to $1,486.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. JPMorgan Chase & Co. lifted their price objective on BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a report on Thursday, October 2nd. Jefferies Financial Group lifted their price objective on BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of BlackRock in a report on Wednesday, October 8th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,299.29.

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.