CNB Bank Purchases 9 Shares of BlackRock $BLK

CNB Bank increased its position in BlackRock (NYSE:BLK) by 9.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103 shares of the asset manager’s stock after purchasing an additional 9 shares during the quarter. CNB Bank’s holdings in BlackRock were worth $108,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Garde Capital Inc. boosted its position in shares of BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 18 shares in the last quarter. Fairway Wealth LLC raised its position in 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 purchasing an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC lifted its stake in BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 15 shares during the period. Mid American Wealth Advisory Group Inc. acquired a new stake in BlackRock during the second quarter valued at approximately $34,000. Finally, MorganRosel Wealth Management LLC bought a new stake in shares of BlackRock in the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BlackRock in a research note on Wednesday, October 8th. Zacks Research downgraded shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. UBS Group reiterated a “hold” rating on shares of BlackRock in a research report on Tuesday. Bank of America lifted their price target on shares of BlackRock from $1,394.00 to $1,456.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, Loop Capital set a $1,255.00 price objective on shares of BlackRock in a research note on Tuesday. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,299.29.

BlackRock Stock Performance

Shares of NYSE:BLK 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. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94. The stock has a market capitalization of $176.31 billion, a P/E ratio of 29.28, a P/E/G ratio of 1.97 and a beta of 1.45. The business has a 50-day moving average price of $1,139.57 and a two-hundred day moving average price of $1,053.41.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing the consensus estimate 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 prior year, the firm earned $11.46 EPS. The firm’s quarterly revenue was up 25.2% compared to the same quarter last year. Equities analysts predict that BlackRock will post 47.41 earnings per share for the current year.

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 17,142 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares in the company, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Rachel Lord sold 12,000 shares of the firm’s 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 transaction, the director 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 disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

BlackRock 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.