Police & Firemen s Retirement System of New Jersey Increases Stake in BlackRock $BLK

Police & Firemen s Retirement System of New Jersey raised its stake in BlackRock (NYSE:BLK) by 7.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 23,167 shares of the asset manager’s stock after purchasing an additional 1,693 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in BlackRock were worth $24,308,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bailard Inc. raised its holdings in BlackRock by 2.7% during the 2nd quarter. Bailard Inc. now owns 28,360 shares of the asset manager’s stock valued at $29,757,000 after buying an additional 754 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of BlackRock by 1.1% during the second quarter. Geode Capital Management LLC now owns 3,143,429 shares of the asset manager’s stock valued at $3,281,641,000 after acquiring an additional 34,049 shares during the last quarter. Everett Harris & Co. CA boosted its holdings in shares of BlackRock by 10.7% during the second quarter. Everett Harris & Co. CA now owns 4,388 shares of the asset manager’s stock worth $4,604,000 after purchasing an additional 423 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of BlackRock by 2.2% in the second quarter. PNC Financial Services Group Inc. now owns 331,546 shares of the asset manager’s stock worth $347,874,000 after purchasing an additional 7,115 shares during the last quarter. Finally, Turn8 Private Wealth Inc. increased its holdings in BlackRock by 5.0% during the 2nd quarter. Turn8 Private Wealth Inc. now owns 3,582 shares of the asset manager’s stock valued at $3,893,000 after purchasing an additional 170 shares during the period. Institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Loop Capital set a $1,255.00 price objective on BlackRock in a report on Tuesday, October 21st. Cowen reaffirmed a “buy” rating on shares of BlackRock in a research report on Wednesday, October 15th. Jefferies Financial Group increased their price target on shares of BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. TD Cowen upped their target price on BlackRock from $1,301.00 to $1,407.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, BNP Paribas Exane lifted their price target on BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,303.41.

Insider Transactions at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of the stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the sale, the director directly owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.98% of the stock is currently owned by insiders.

BlackRock Stock Performance

Shares of BLK opened at $1,093.04 on Thursday. 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 stock has a market cap of $169.26 billion, a P/E ratio of 28.11, a P/E/G ratio of 1.90 and a beta of 1.48. The business’s 50 day moving average price is $1,129.00 and its 200-day moving average price is $1,073.06. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94.

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

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.