Sage Mountain Advisors LLC Has $1.48 Million Stock Position in BlackRock $BLK

Sage Mountain Advisors LLC raised its position in shares of BlackRock (NYSE:BLK) by 5.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,408 shares of the asset manager’s stock after purchasing an additional 70 shares during the period. Sage Mountain Advisors LLC’s holdings in BlackRock were worth $1,478,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Securian Asset Management Inc. acquired a new position in BlackRock during the first quarter valued at approximately $7,331,000. Prudent Man Advisors LLC acquired a new position in shares of BlackRock during the first quarter worth $2,018,000. Allianz SE increased its holdings in shares of BlackRock by 2.6% during the first quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock worth $10,435,000 after buying an additional 277 shares in the last quarter. Arizona State Retirement System acquired a new position in shares of BlackRock during the first quarter worth $40,868,000. Finally, Weil Company Inc. increased its holdings in shares of BlackRock by 194.6% during the first quarter. Weil Company Inc. now owns 2,074 shares of the asset manager’s stock worth $1,963,000 after buying an additional 1,370 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BLK. Argus upped their price target on shares of BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Cowen reiterated a “buy” rating on shares of BlackRock in a report on Wednesday, October 15th. JPMorgan Chase & Co. upped their price target on shares of BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a report on Thursday, October 2nd. TD Cowen boosted their price objective on shares of BlackRock from $1,301.00 to $1,407.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, Barclays increased their price objective on BlackRock from $1,310.00 to $1,360.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,299.29.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,138.60 on Friday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $1,139.57 and a two-hundred day moving average price of $1,051.77. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94. The company has a market cap of $176.31 billion, a P/E ratio of 29.28, a PEG ratio of 1.95 and a beta of 1.45.

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

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the sale, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. This trade represents a 21.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rachel Lord sold 12,000 shares of the stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the sale, the director owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. The trade was a 62.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

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.