Cascade Financial Partners LLC Has $344,000 Position in BlackRock $BLK

Cascade Financial Partners LLC decreased its position in shares of BlackRock (NYSE:BLK) by 15.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 328 shares of the asset manager’s stock after selling 60 shares during the quarter. Cascade Financial Partners LLC’s holdings in BlackRock were worth $344,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Garde Capital Inc. raised its holdings in BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after purchasing an additional 18 shares during the last quarter. Whipplewood Advisors LLC raised its stake in shares of BlackRock by 107.1% during the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after buying an additional 15 shares during the last quarter. Game Plan Financial Advisors LLC lifted its holdings in BlackRock by 100.0% in the first 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 period. Creekmur Asset Management LLC boosted its stake in BlackRock by 87.5% in the second quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 14 shares during the last quarter. Finally, Mid American Wealth Advisory Group Inc. acquired a new stake in BlackRock during the 2nd quarter worth $34,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BLK has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft set a $1,320.00 price target on BlackRock and gave the stock a “buy” rating in a research report on Wednesday, October 15th. TD Cowen boosted their target price on BlackRock from $1,301.00 to $1,407.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. UBS Group reiterated a “hold” rating on shares of BlackRock in a research report on Tuesday, October 21st. Jefferies Financial Group boosted their price objective on shares of BlackRock from $1,196.00 to $1,325.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Finally, Bank of America upped their target price on shares of BlackRock from $1,394.00 to $1,456.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,303.41.

BlackRock Stock Up 0.1%

Shares of BLK stock opened at $1,083.98 on Wednesday. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,219.94. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average of $1,129.11 and a 200-day moving average of $1,072.92. The company has a market capitalization of $167.86 billion, a price-to-earnings ratio of 27.87, a P/E/G ratio of 1.90 and a beta of 1.48.

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

Insider Buying and Selling at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of the 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 completion of the transaction, the director directly owned 7,205 shares in the company, valued at approximately $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.98% of the stock is owned by corporate insiders.

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.