Spinnaker Trust Increases Position in BlackRock $BLK

Spinnaker Trust raised its position in BlackRock (NYSE:BLK) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,914 shares of the asset manager’s stock after purchasing an additional 130 shares during the quarter. Spinnaker Trust’s holdings in BlackRock were worth $9,353,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Garde Capital Inc. grew its stake in shares of BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after acquiring an additional 18 shares in the last quarter. Whipplewood Advisors LLC grew its stake in shares of BlackRock by 107.1% in the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after acquiring an additional 15 shares in the last quarter. Fairway Wealth LLC grew its stake in shares of BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC grew its stake in shares of BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 15 shares in the last quarter. Finally, Mid American Wealth Advisory Group Inc. acquired a new position in shares of BlackRock in the second quarter worth $34,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

NYSE BLK opened at $1,098.88 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94. The company has a market capitalization of $170.16 billion, a PE ratio of 28.26, a P/E/G ratio of 1.95 and a beta of 1.45. The company has a fifty day moving average of $1,138.79 and a two-hundred day moving average of $1,059.55.

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

Insider Transactions at BlackRock

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the completion of the transaction, the director owned 7,205 shares in the company, valued at $8,394,113.20. This represents a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup boosted their price target 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. BNP Paribas Exane boosted their price target on shares of BlackRock from $1,160.00 to $1,265.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Bank of America boosted their target price on shares of BlackRock from $1,394.00 to $1,456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Telsey Advisory Group reiterated an “outperform” rating on shares of BlackRock in a research note on Tuesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft set a $1,320.00 target price on shares of BlackRock and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Seventeen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,299.29.

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.