Advisors Asset Management Inc. Grows Position in BlackRock, Inc. (NYSE:BLK)

Advisors Asset Management Inc. grew its position in BlackRock, Inc. (NYSE:BLK) by 6.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,862 shares of the asset manager’s stock after acquiring an additional 870 shares during the quarter. Advisors Asset Management Inc.’s holdings in BlackRock were worth $13,162,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital Research Global Investors raised its holdings in shares of BlackRock by 11.1% in the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after buying an additional 435,358 shares during the last quarter. Ameriprise Financial Inc. lifted its position in BlackRock by 2.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after acquiring an additional 46,728 shares during the period. Legal & General Group Plc grew its stake in shares of BlackRock by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after purchasing an additional 22,311 shares during the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of BlackRock by 89,389.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after purchasing an additional 1,044,962 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of BlackRock by 104,468.9% during the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after purchasing an additional 791,874 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,028.38 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The business’s fifty day moving average price is $975.38 and its two-hundred day moving average price is $875.55. The stock has a market cap of $159.27 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 1.87 and a beta of 1.30. BlackRock, Inc. has a one year low of $712.11 and a one year high of $1,068.34.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the previous year, the company posted $10.91 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BLK shares. TD Cowen boosted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company boosted their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Barclays lifted their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their target price on BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group lifted their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy 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 target price of $1,019.62.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 64.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.90% of the company’s stock.

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.