Compass Capital Management Inc. Makes New $1.26 Million Investment in BlackRock $BLK

Compass Capital Management Inc. bought a new stake in BlackRock (NYSE:BLK) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,200 shares of the asset manager’s stock, valued at approximately $1,259,000.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in BlackRock by 2.9% during the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock worth $13,027,419,000 after purchasing an additional 387,466 shares during the last quarter. Royal Bank of Canada increased its position 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake 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 worth $1,142,340,000 after buying an additional 111,694 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of BlackRock by 32.8% in 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 buying an additional 279,336 shares in the last quarter. Finally, Invesco Ltd. grew its stake in BlackRock by 13.2% in the 1st quarter. Invesco Ltd. now owns 932,899 shares of the asset manager’s stock valued at $882,970,000 after acquiring an additional 108,473 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,081.66 on Monday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $167.50 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The business has a 50 day simple moving average of $1,130.62 and a 200-day simple moving average of $1,070.51.

BlackRock (NYSE:BLK) last announced 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). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The firm had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter last year, the business earned $11.46 earnings per share. The business’s revenue for the quarter was up 25.2% compared to the same quarter last year. As a group, equities research analysts expect that BlackRock will post 47.41 earnings per share for the current year.

Insider Activity at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This represents a 62.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on BLK shares. Deutsche Bank Aktiengesellschaft set a $1,320.00 price target on shares of BlackRock and gave the company a “buy” rating in a report on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of BlackRock in a research note on Thursday, October 30th. Citigroup raised their price target 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. Jefferies Financial Group boosted their price target 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, Keefe, Bruyette & Woods increased their price objective on BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,303.41.

About BlackRock

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.