BlackRock $BLK Shares Acquired by Linscomb Wealth Inc.

Linscomb Wealth Inc. raised its holdings in shares of BlackRock (NYSE:BLK) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,721 shares of the asset manager’s stock after acquiring an additional 189 shares during the quarter. BlackRock makes up 0.7% of Linscomb Wealth Inc.’s investment portfolio, making the stock its 23rd biggest holding. Linscomb Wealth Inc.’s holdings in BlackRock were worth $14,397,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of BlackRock by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock worth $13,027,419,000 after acquiring an additional 387,466 shares in the last quarter. Royal Bank of Canada boosted its position in shares of BlackRock by 73.2% during the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock worth $1,243,059,000 after acquiring an additional 555,098 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of BlackRock by 10.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager’s stock valued at $1,142,340,000 after purchasing an additional 111,694 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of BlackRock by 32.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after purchasing an additional 279,336 shares during the period. Finally, Invesco Ltd. boosted its position in shares of BlackRock by 13.2% in the 1st quarter. Invesco Ltd. now owns 932,899 shares of the asset manager’s stock valued at $882,970,000 after purchasing an additional 108,473 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. TD Cowen upped their target price on BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Telsey Advisory Group reissued an “outperform” rating on shares of BlackRock in a research report on Tuesday, July 8th. Jefferies Financial Group upped their target price on BlackRock from $1,196.00 to $1,325.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. Finally, The Goldman Sachs Group increased their target price on shares of BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Seventeen equities 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 presently has an average rating of “Moderate Buy” and an average target price of $1,299.29.

Insider Activity

In other news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.98% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $1,096.92 on Friday. The company has a market cap of $169.86 billion, a price-to-earnings ratio of 28.21, a price-to-earnings-growth ratio of 1.90 and a beta of 1.45. The stock has a 50 day simple moving average of $1,138.25 and a 200-day simple moving average of $1,059.80. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,219.94. 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 (NYSE:BLK) last issued 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 quarterly revenue was up 25.2% on a year-over-year basis. During the same period last year, the company posted $11.46 earnings per share. On average, equities analysts forecast that BlackRock will post 47.41 EPS for the current year.

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.