BlackRock $BLK Holdings Lifted by Savvy Advisors Inc.

Savvy Advisors Inc. boosted its holdings in shares of BlackRock (NYSE:BLK) by 42.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,472 shares of the asset manager’s stock after buying an additional 436 shares during the period. Savvy Advisors Inc.’s holdings in BlackRock were worth $1,544,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. 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 buying an additional 387,466 shares during the period. 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 buying an additional 555,098 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in BlackRock by 10.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager’s stock valued at $1,142,340,000 after buying an additional 111,694 shares during the period. 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 buying an additional 279,336 shares during the period. Finally, Invesco Ltd. raised its position in BlackRock by 13.2% during the first quarter. Invesco Ltd. now owns 932,899 shares of the asset manager’s stock valued at $882,970,000 after buying an additional 108,473 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of the stock in a transaction dated 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 transaction, the director owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the topic of several recent analyst reports. Jefferies Financial Group upped their price target on BlackRock from $1,196.00 to $1,325.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Wells Fargo & Company dropped their target price on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 16th. Telsey Advisory Group reaffirmed an “outperform” rating on shares of BlackRock in a research report on Tuesday, July 8th. Citigroup upped their target price on BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of BlackRock in a research report on Thursday. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,299.29.

BlackRock Stock Performance

Shares of NYSE BLK opened at $1,096.92 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The firm has a market cap of $169.86 billion, a price-to-earnings ratio of 28.21, a P/E/G ratio of 1.90 and a beta of 1.45. The business’s 50-day simple moving average is $1,138.25 and its 200-day simple moving average is $1,059.80. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The company had revenue of $6.51 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company posted $11.46 EPS. As a group, equities research analysts expect that BlackRock will post 47.41 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.