Compass Capital Management Inc. Makes New $1.27 Million Investment in BlackRock $BLK

Compass Capital Management Inc. purchased a new stake in shares of BlackRock (NYSE:BLK) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,200 shares of the asset manager’s stock, valued at approximately $1,270,000.

A number of other hedge funds and other institutional investors have also modified their holdings of BLK. BlackRock Inc. acquired a new position in BlackRock during the 2nd quarter valued at about $9,747,857,000. Temasek Holdings Private Ltd raised its position in shares of BlackRock by 4.7% during the 1st quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager’s stock worth $5,126,387,000 after buying an additional 237,667 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of BlackRock by 0.7% in the 1st quarter. Bank of America Corp DE now owns 5,232,973 shares of the asset manager’s stock worth $5,032,603,000 after acquiring an additional 35,069 shares during the period. Wellington Management Group LLP lifted its stake in shares of BlackRock by 23.3% in the 2nd quarter. Wellington Management Group LLP now owns 4,495,074 shares of the asset manager’s stock worth $4,322,283,000 after acquiring an additional 850,406 shares during the period. Finally, Santa Clara Valley Transportation Authority bought a new position in shares of BlackRock in the second quarter valued at approximately $129,138,253,000. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BLK shares. Deutsche Bank raised their price objective on shares of BlackRock from $1,315.00 to $1,355.00 and gave the company a “buy” rating in a research note on Thursday, October 15th. The Goldman Sachs Group cut their target price on BlackRock from $1,389.00 to $1,346.00 and set a “buy” rating for the company in a research report on Friday, October 2nd. BMO Capital Markets increased their price target on BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a research note on Monday, October 19th. Barclays lowered their price target on BlackRock from $1,420.00 to $1,410.00 and set an “overweight” rating on the stock in a research report on Thursday, October 15th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $1,341.00 price objective on shares of BlackRock in a research note on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and an average price target of $1,342.25.

Insider Activity

In other BlackRock news, Director Rachel Lord sold 7,000 shares of BlackRock stock in a transaction on Monday, November 9th. The shares were sold at an average price of $1,219.55, for a total transaction of $8,536,850.00. Following the completion of the sale, the director owned 6,065 shares of the company’s stock, valued at $7,396,570.75. This trade represents a 53.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.92% of the stock is owned by company insiders.

BlackRock Stock Performance

Shares of BLK opened at $1,221.82 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.44 and a quick ratio of 3.44. The firm’s 50 day moving average is $1,113.42 and its 200-day moving average is $1,067.86. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,242.12. The stock has a market capitalization of $188.67 billion, a P/E ratio of 21.91, a P/E/G ratio of 1.26 and a beta of 1.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.32 by $1.61. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.42 billion. BlackRock had a net margin of 24.22% and a return on equity of 15.60%. The firm’s revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.43 earnings per share. Equities research analysts anticipate that BlackRock will post 57.82 EPS for the current fiscal year.

BlackRock News Summary

Here’s some of the latest news about BLK:

• Positive Sentiment: BlackRock beat quarterly earnings and revenue estimates, with revenue up 19.1% year over year. Shares have gained 8.6% since that report, indicating a favorable market response. Article: Why Is BlackRock Up Since Last Earnings Report?
• Negative Sentiment: Investors pulled $269.7 million from BlackRock’s iShares Bitcoin Trust (IBIT) on Wednesday, bringing outflows to more than $2 billion over nine sessions. Sustained redemptions could weigh on the fund’s assets and related fee revenue. Article: BlackRock Bitcoin ETF outflows hit $2B
• Negative Sentiment: Director Rachel Lord sold 7,000 shares, cutting her reported stake by 53.58%. The filing does not explain the reason for the sale, but insider selling can weigh on sentiment. SEC filing: BlackRock Form 4

About BlackRock

BlackRock, Inc. is a global investment management and financial technology company serving individuals, institutions, governments and other organizations. Founded in 1988, the company is headquartered in New York City and operates in markets around the world. BlackRock offers investment products and services across asset classes, including equities, fixed income, cash management and alternative investments. Its offerings include exchange-traded funds and other funds under the iShares brand, as well as portfolio management, investment advisory and risk management services.