Austin Private Wealth LLC Buys 38 Shares of BlackRock $BLK

Austin Private Wealth LLC increased its stake in BlackRock (NYSE:BLK) by 6.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 606 shares of the asset manager’s stock after purchasing an additional 38 shares during the period. Austin Private Wealth LLC’s holdings in BlackRock were worth $636,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Zhang Financial LLC increased its position in shares of BlackRock by 8.7% in the second quarter. Zhang Financial LLC now owns 1,052 shares of the asset manager’s stock worth $1,104,000 after purchasing an additional 84 shares during the last quarter. New York Life Investment Management LLC boosted its stake in BlackRock by 1.8% in the second quarter. New York Life Investment Management LLC now owns 19,797 shares of the asset manager’s stock worth $20,772,000 after buying an additional 346 shares in the last quarter. Boyd Watterson Asset Management LLC OH boosted its stake in BlackRock by 4.5% in the second quarter. Boyd Watterson Asset Management LLC OH now owns 468 shares of the asset manager’s stock worth $491,000 after buying an additional 20 shares in the last quarter. Integral Investment Advisors Inc. boosted its stake in BlackRock by 28.5% in the second quarter. Integral Investment Advisors Inc. now owns 781 shares of the asset manager’s stock worth $819,000 after buying an additional 173 shares in the last quarter. Finally, Howard Capital Management Inc. boosted its stake in BlackRock by 37.5% in the second quarter. Howard Capital Management Inc. now owns 1,144 shares of the asset manager’s stock worth $1,200,000 after buying an additional 312 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Performance

NYSE:BLK opened at $1,125.20 on Wednesday. The firm has a market cap of $174.24 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 1.96 and a beta of 1.45. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,219.94. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The business has a 50 day moving average price of $1,139.39 and a 200-day moving average price of $1,058.01.

BlackRock (NYSE:BLK) last released 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). The company had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The business’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same period last year, the company posted $11.46 EPS. Equities research analysts predict that BlackRock will post 47.41 earnings per share for the current year.

Analyst Ratings Changes

BLK has been the subject of several research reports. UBS Group reaffirmed a “hold” rating on shares of BlackRock in a research note on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft set a $1,320.00 target price on BlackRock and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Barclays upped their target price on BlackRock from $1,310.00 to $1,360.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Morgan Stanley upped their target price on BlackRock from $1,362.00 to $1,486.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Finally, Argus increased their price objective on BlackRock from $1,165.00 to $1,330.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,299.29.

Insider Activity at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total transaction 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. This represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is currently owned by corporate insiders.

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.