BlackRock $BLK Shares Bought by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC raised its stake in BlackRock (NYSE:BLK) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 406 shares of the asset manager’s stock after buying an additional 18 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in BlackRock were worth $426,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Securian Asset Management Inc. acquired a new position in BlackRock in the first quarter valued at about $7,331,000. Prudent Man Advisors LLC acquired a new position in BlackRock in the first quarter valued at about $2,018,000. Allianz SE lifted its position in BlackRock by 2.6% in the first quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock valued at $10,435,000 after buying an additional 277 shares during the last quarter. Arizona State Retirement System purchased a new stake in BlackRock during the first quarter worth about $40,868,000. Finally, Weil Company Inc. increased its stake in BlackRock by 194.6% during the first quarter. Weil Company Inc. now owns 2,074 shares of the asset manager’s stock worth $1,963,000 after purchasing an additional 1,370 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Down 0.2%

BLK stock opened at $1,127.42 on Thursday. The company’s 50 day moving average price is $1,140.24 and its 200 day moving average price is $1,047.41. 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 fifty-two week low of $773.74 and a fifty-two week high of $1,219.94. The firm has a market capitalization of $174.58 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 1.95 and a beta of 1.45.

BlackRock (NYSE:BLK) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $6.22 billion. During the same quarter in the previous year, the company posted $11.46 earnings per share. The firm’s quarterly revenue was up 25.2% on a year-over-year basis. On average, equities research analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. UBS Group reiterated a “hold” rating on shares of BlackRock in a research note on Tuesday. Morgan Stanley boosted their price target on shares of BlackRock from $1,362.00 to $1,486.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Loop Capital set a $1,255.00 price target on shares of BlackRock in a research note on Tuesday. Evercore ISI boosted their price target on shares of BlackRock from $1,200.00 to $1,230.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Finally, Telsey Advisory Group reiterated an “outperform” rating on shares of BlackRock in a research note on Tuesday, July 8th. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,299.29.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 17,142 shares of the company’s stock in a transaction that occurred on 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 transaction, the director directly owned 61,369 shares of the company’s stock, valued at $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Laurence Fink sold 12,054 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the completion of the transaction, the chief executive officer directly owned 251,697 shares of the company’s stock, valued at $283,267,354.71. This trade represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,232 shares of company stock worth $67,055,346. Company 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.