Rovin Capital UT ADV Buys New Shares in BlackRock $BLK

Rovin Capital UT ADV bought a new position in shares of BlackRock (NYSE:BLK) during the second quarter, Holdings Channel.com reports. The fund bought 289 shares of the asset manager’s stock, valued at approximately $304,000.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew 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 stake in shares of BlackRock by 73.2% in 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 lifted its position in shares of BlackRock by 10.2% during the 1st 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 last quarter. Goldman Sachs Group Inc. grew its stake in shares of BlackRock by 32.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock worth $1,071,339,000 after acquiring an additional 279,336 shares during the period. Finally, Invesco Ltd. increased its holdings in BlackRock by 13.2% in the 1st quarter. Invesco Ltd. now owns 932,899 shares of the asset manager’s stock worth $882,970,000 after acquiring an additional 108,473 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Down 0.3%

Shares of NYSE:BLK opened at $1,070.02 on Friday. The firm has a market capitalization of $165.70 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48. 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 52-week low of $773.74 and a 52-week high of $1,219.94. The firm has a fifty day moving average of $1,131.56 and a 200 day moving average of $1,066.45.

BlackRock (NYSE:BLK) last released 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 business 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%. BlackRock’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same period in the prior year, the business posted $11.46 EPS. As a group, research analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley lifted their target price on shares of BlackRock from $1,362.00 to $1,486.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft set a $1,320.00 target price on BlackRock and gave the stock a “buy” rating in a research note on Wednesday, October 15th. JPMorgan Chase & Co. increased their price target on shares of BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a report on Thursday, October 2nd. Zacks Research cut shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Finally, Loop Capital set a $1,255.00 price target on shares of BlackRock in a report on Tuesday, October 21st. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,299.29.

Insiders Place Their Bets

In related news, Director Rachel Lord sold 12,000 shares of the business’s 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 in the company, valued at $8,394,113.20. The trade was a 62.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.98% of the stock is owned by corporate 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.