RKL Wealth Management LLC Boosts Stake in BlackRock, Inc. (BLK)
RKL Wealth Management LLC lifted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 18.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,667 shares of the asset manager’s stock after buying an additional 412 shares during the period. RKL Wealth Management LLC’s holdings in BlackRock were worth $1,199,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of BLK. Salem Investment Counselors Inc. lifted its stake in shares of BlackRock by 14.3% during the second quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock worth $101,000 after buying an additional 30 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of BlackRock by 48.9% during the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after buying an additional 85 shares during the period. Enterprise Financial Services Corp lifted its stake in shares of BlackRock by 52.5% during the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after buying an additional 85 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of BlackRock during the second quarter worth $104,000. Finally, Harfst & Associates Inc. lifted its stake in shares of BlackRock by 17.3% during the second quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock worth $111,000 after buying an additional 39 shares during the period. Institutional investors and hedge funds own 82.42% of the company’s stock.
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Shares of BlackRock, Inc. (NYSE:BLK) traded up $2.45 during trading on Thursday, hitting $472.95. 95,374 shares of the company’s stock were exchanged, compared to its average volume of 530,877. The firm has a market capitalization of $75,710.00, a P/E ratio of 21.83, a P/E/G ratio of 1.62 and a beta of 1.79. BlackRock, Inc. has a 1-year low of $365.83 and a 1-year high of $489.79. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, topping analysts’ consensus estimates of $5.49 by $0.43. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The company’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.14 earnings per share. sell-side analysts expect that BlackRock, Inc. will post 22.29 earnings per share for the current fiscal year.
In other news, Director J. Richard Kushel sold 100 shares of the business’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $481.58, for a total transaction of $48,158.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,775 shares of company stock valued at $2,053,412. Insiders own 1.86% of the company’s stock.
BLK has been the subject of several research reports. Goldman Sachs Group, Inc. (The) upgraded shares of BlackRock from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $440.00 to $500.00 in a research note on Thursday, September 28th. Wells Fargo & Company restated a “market perform” rating and set a $475.00 target price (up from $450.00) on shares of BlackRock in a research report on Thursday, October 12th. Barclays PLC began coverage on shares of BlackRock in a research report on Friday, September 8th. They set an “overweight” rating and a $475.00 target price for the company. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 target price for the company in a research report on Tuesday, October 3rd. Finally, Jefferies Group LLC restated a “hold” rating and set a $440.00 target price on shares of BlackRock in a research report on Tuesday, September 26th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. BlackRock currently has an average rating of “Buy” and a consensus price target of $489.08.
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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