BlackRock $BLK Shares Bought by SYM FINANCIAL Corp

SYM FINANCIAL Corp raised its holdings in shares of BlackRock (NYSE:BLK) by 3.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 412 shares of the asset manager’s stock after purchasing an additional 14 shares during the quarter. SYM FINANCIAL Corp’s holdings in BlackRock were worth $432,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fairway Wealth LLC boosted its holdings in shares of BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 13 shares during the period. Game Plan Financial Advisors LLC boosted its stake in BlackRock by 100.0% in the first 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 during the period. Garde Capital Inc. boosted its position in BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 18 shares during the period. Cheviot Value Management LLC acquired a new position in BlackRock during the 1st quarter valued at approximately $30,000. Finally, Whipplewood Advisors LLC boosted its position in BlackRock by 107.1% during the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 15 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Price Performance

NYSE BLK opened at $1,130.06 on Tuesday. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,219.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The firm has a market capitalization of $174.99 billion, a price-to-earnings ratio of 29.06, a price-to-earnings-growth ratio of 1.97 and a beta of 1.45. The company has a 50 day simple moving average of $1,139.45 and a 200-day simple moving average of $1,056.13.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a research report on Wednesday, July 16th. BNP Paribas Exane boosted their price target on BlackRock from $1,160.00 to $1,265.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Barclays boosted their price target on BlackRock from $1,310.00 to $1,360.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Keefe, Bruyette & Woods upped their price objective on shares of BlackRock from $1,215.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Finally, Loop Capital set a $1,255.00 price target on shares of BlackRock in a research note on Tuesday, October 21st. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus target price of $1,299.29.

Insider Buying and Selling

In other news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the transaction, the director owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the transaction, the director owned 61,369 shares in the company, valued at $68,763,964.50. This trade represents a 21.83% decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

About BlackRock

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.