Texas Yale Capital Corp. Invests $4.54 Million in BlackRock $BLK

Texas Yale Capital Corp. acquired a new stake in BlackRock (NYSE:BLK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,329 shares of the asset manager’s stock, valued at approximately $4,542,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC increased its position in shares of BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 15 shares during the last quarter. Garde Capital Inc. boosted its stake in BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after buying an additional 18 shares during the period. Cheviot Value Management LLC acquired a new stake in shares of BlackRock during the first quarter valued at about $30,000. Whipplewood Advisors LLC raised its stake in shares of BlackRock by 107.1% in the 2nd 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 period. Finally, Creekmur Asset Management LLC lifted its holdings in shares of BlackRock by 87.5% in the 2nd quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock worth $32,000 after acquiring an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on BLK shares. Deutsche Bank Aktiengesellschaft set a $1,320.00 target price on shares of BlackRock and gave the company a “buy” rating in a report on Wednesday, October 15th. Cowen reiterated a “buy” rating on shares of BlackRock in a report on Wednesday, October 15th. Argus raised their target price on BlackRock from $1,165.00 to $1,330.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Barclays boosted their price target on shares of BlackRock from $1,310.00 to $1,360.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Finally, Jefferies Financial Group raised their price objective on shares of BlackRock from $1,196.00 to $1,325.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Seventeen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,299.29.

BlackRock Stock Down 0.3%

Shares of NYSE:BLK opened at $1,070.02 on Friday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The company has a market capitalization of $165.70 billion, a PE ratio of 27.51, a P/E/G ratio of 1.90 and a beta of 1.48. The firm has a 50 day simple moving average of $1,131.56 and a 200-day simple moving average of $1,066.45.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The business had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.22 billion. BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The business’s revenue was up 25.2% on a year-over-year basis. During the same quarter last year, the business posted $11.46 earnings per share. On average, equities analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

Insider Transactions at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the completion of the sale, the director directly owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This trade represents a 62.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.