Kornitzer Capital Management Inc. KS Has $1.35 Million Stake in BlackRock $BLK

Kornitzer Capital Management Inc. KS boosted its position in shares of BlackRock (NYSE:BLK) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,289 shares of the asset manager’s stock after purchasing an additional 23 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in BlackRock were worth $1,352,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Garde Capital Inc. grew its position in BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 18 shares in the last quarter. Fairway Wealth LLC grew its holdings in shares of BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC grew its holdings in shares of BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 15 shares in the last quarter. Mid American Wealth Advisory Group Inc. acquired a new position in shares of BlackRock in the second quarter worth $34,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in shares of BlackRock during the first quarter worth $31,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the company’s stock in a transaction dated Wednesday, July 30th. The shares were 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 $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rachel Lord sold 12,000 shares of BlackRock 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 completion of the transaction, the director owned 7,205 shares in the company, valued at $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. 1.98% of the stock is owned by corporate insiders.

BlackRock Trading Up 1.2%

Shares of BLK stock opened at $1,138.60 on Monday. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,219.94. The company has a market cap of $176.32 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 1.97 and a beta of 1.45. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $1,139.57 and its two-hundred day moving average is $1,054.51.

BlackRock (NYSE:BLK) last issued its quarterly earnings data 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 firm had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.22 billion. During the same quarter in the previous year, the firm posted $11.46 earnings per share. BlackRock’s quarterly revenue was up 25.2% compared to the same quarter last year. Equities analysts predict that BlackRock will post 47.41 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wells Fargo & Company lowered their target price on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. BMO Capital Markets increased their price objective on BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Jefferies Financial Group lifted their target price on shares of BlackRock from $1,196.00 to $1,325.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Zacks Research downgraded shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Finally, BNP Paribas Exane raised their price target on shares of BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Seventeen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,299.29.

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.