Onyx Bridge Wealth Group LLC Boosts Stock Holdings in BlackRock $BLK

Onyx Bridge Wealth Group LLC grew its position in shares of BlackRock (NYSE:BLK) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 406 shares of the asset manager’s stock after purchasing an additional 18 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in BlackRock were worth $426,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in BlackRock by 73.2% in the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock worth $1,243,059,000 after acquiring an additional 555,098 shares in the last quarter. Vanguard Group Inc. increased its holdings in BlackRock by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock worth $13,027,419,000 after acquiring an additional 387,466 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in 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 acquiring an additional 279,336 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in BlackRock in the 2nd quarter worth $231,000. Finally, Unisphere Establishment increased its holdings in BlackRock by 29.2% in the 1st quarter. Unisphere Establishment now owns 839,500 shares of the asset manager’s stock worth $794,570,000 after acquiring an additional 189,500 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Laurence Fink sold 12,054 shares of the business’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the transaction, the chief executive officer owned 251,697 shares of the company’s stock, valued at approximately $283,267,354.71. The trade was a 4.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director J. Richard Kushel sold 17,142 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the transaction, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. The trade was a 21.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,232 shares of company stock valued at $67,055,346. 1.98% of the stock is currently owned by insiders.

BlackRock Trading Down 0.2%

Shares of BLK stock opened at $1,127.42 on Thursday. The company’s 50-day moving average price is $1,140.24 and its 200-day moving average price is $1,047.41. 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 stock has a market cap of $174.58 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 1.95 and a beta of 1.45. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94.

BlackRock (NYSE:BLK) last announced its quarterly earnings results 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 analyst estimates of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The company’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 EPS. As a group, equities analysts predict that BlackRock will post 47.41 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on BLK shares. Morgan Stanley boosted their price target on shares of BlackRock from $1,362.00 to $1,486.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Citigroup lifted their target price on shares of BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Evercore ISI lifted their target price on shares of BlackRock from $1,200.00 to $1,230.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Argus lifted their target price on shares of BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating on shares of BlackRock in a research note on Tuesday, July 8th. Seventeen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock 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.