Blackston Financial Advisory Group LLC Makes New $225,000 Investment in BlackRock $BLK

Blackston Financial Advisory Group LLC acquired a new stake in BlackRock (NYSE:BLK) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 214 shares of the asset manager’s stock, valued at approximately $225,000.

Several other hedge funds have also modified their holdings of BLK. Game Plan Financial Advisors LLC boosted its position in 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 buying an additional 15 shares during the last quarter. Garde Capital Inc. lifted its stake in shares of BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 18 shares during the period. Cheviot Value Management LLC acquired a new position in shares of BlackRock during the first quarter valued at $30,000. Whipplewood Advisors LLC boosted its holdings in BlackRock by 107.1% in the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 15 shares during the last quarter. Finally, Creekmur Asset Management LLC increased its position in BlackRock by 87.5% in the second quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock worth $32,000 after purchasing an additional 14 shares during the period. 80.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of research reports. Loop Capital set a $1,255.00 target price on shares of BlackRock in a research report on Tuesday, October 21st. TD Cowen boosted 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. BMO Capital Markets increased their price objective on shares of BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of BlackRock in a report on Thursday, October 30th. Finally, Evercore ISI increased their price target on BlackRock from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Friday. 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,303.41.

BlackRock Stock Up 1.1%

Shares of BlackRock stock opened at $1,081.66 on Monday. The company has a market capitalization of $167.50 billion, a P/E ratio of 27.81, 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 current ratio of 4.04 and a quick ratio of 4.04. The business has a 50-day moving average of $1,130.62 and a two-hundred day moving average of $1,070.51. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94.

BlackRock (NYSE:BLK) last issued its quarterly earnings data 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). The business had revenue of $6.51 billion during 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%. BlackRock’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $11.46 earnings per share. As a group, equities analysts predict that BlackRock will post 47.41 EPS for the current year.

Insider Activity

In related news, Director Rachel Lord sold 12,000 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the sale, 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 SEC, which is available at this hyperlink. 1.98% of the stock is owned by corporate insiders.

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.