Savvy Advisors Inc. Has $1.54 Million Stock Position in BlackRock $BLK

Savvy Advisors Inc. raised its holdings in BlackRock (NYSE:BLK) by 42.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,472 shares of the asset manager’s stock after buying an additional 436 shares during the quarter. Savvy Advisors Inc.’s holdings in BlackRock were worth $1,544,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Securian Asset Management Inc. bought a new stake in shares of BlackRock in the 1st quarter worth approximately $7,331,000. Prudent Man Advisors LLC bought a new stake in shares of BlackRock in the 1st quarter worth approximately $2,018,000. Allianz SE raised its holdings in shares of BlackRock by 2.6% in the 1st 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 bought a new position in shares of BlackRock during the 1st quarter worth approximately $40,868,000. Finally, Weil Company Inc. boosted its stake in BlackRock by 194.6% in the 1st quarter. Weil Company Inc. now owns 2,074 shares of the asset manager’s stock valued at $1,963,000 after buying an additional 1,370 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BLK. Keefe, Bruyette & Woods lifted their price objective on BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Weiss Ratings reissued a “buy (b)” rating on shares of BlackRock in a report on Thursday. Wells Fargo & Company cut their price objective on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a report on Wednesday, July 16th. BMO Capital Markets lifted their price objective on BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Finally, JPMorgan Chase & Co. lifted their price objective on BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $1,299.29.

Insider Buying and Selling

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the stock in a transaction on 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

BlackRock Trading Down 0.1%

Shares of BLK opened at $1,096.92 on Friday. The stock has a fifty day moving average price of $1,138.25 and a two-hundred day moving average price of $1,059.80. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,219.94. The company has a market cap of $169.86 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 1.90 and a beta of 1.45.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter in the previous year, the firm posted $11.46 EPS. The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. Analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

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.