Compass Capital Management Inc. Purchases 1,200 Shares of BlackRock $BLK

Compass Capital Management Inc. acquired a new stake in shares of BlackRock (NYSE:BLK) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,200 shares of the asset manager’s stock, valued at approximately $1,270,000.

Several other hedge funds also recently added to or reduced their stakes in BLK. Advisors Capital Management LLC acquired a new stake in BlackRock during the second quarter valued at approximately $33,847,000. Varma Mutual Pension Insurance Co acquired a new position in shares of BlackRock in the 2nd quarter worth approximately $28,185,000. Haverford Trust Co acquired a new position in shares of BlackRock in the 2nd quarter worth approximately $264,500,000. Liberty One Investment Management LLC increased its holdings in shares of BlackRock by 30.7% in the 1st quarter. Liberty One Investment Management LLC now owns 4,861 shares of the asset manager’s stock valued at $4,675,000 after acquiring an additional 1,141 shares during the last quarter. Finally, Basswood Capital Management L.L.C. bought a new stake in shares of BlackRock in the 2nd quarter valued at approximately $23,122,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at BlackRock

In related news, Director Rachel Lord sold 7,000 shares of the stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $1,219.55, for a total value of $8,536,850.00. Following the sale, the director owned 6,065 shares of the company’s stock, valued at $7,396,570.75. This trade represents a 53.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.92% of the company’s stock.

BlackRock Stock Up 0.4%

Shares of BlackRock stock opened at $1,221.82 on Friday. The stock has a market capitalization of $188.67 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 1.26 and a beta of 1.37. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,242.12. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.28. The business’s 50 day simple moving average is $1,113.42 and its 200-day simple moving average is $1,067.86.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, topping analysts’ consensus estimates of $14.32 by $1.61. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.42 billion. BlackRock had a return on equity of 15.60% and a net margin of 24.22%. The firm’s revenue was up 19.1% on a year-over-year basis. During the same period in the prior year, the business earned $8.43 EPS. Equities research analysts forecast that BlackRock will post 57.82 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on BLK. JPMorgan Chase & Co. upped their price target on BlackRock from $1,435.00 to $1,449.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. BNP Paribas Exane lifted their price objective on shares of BlackRock from $1,370.00 to $1,430.00 and gave the stock an “outperform” rating in a report on Thursday, October 15th. Truist Financial set a $1,310.00 target price on shares of BlackRock in a research note on Thursday, October 15th. Keefe, Bruyette & Woods increased their target price on shares of BlackRock from $1,290.00 to $1,310.00 and gave the stock an “outperform” rating in a report on Thursday, October 15th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $1,341.00 price target on shares of BlackRock in a research report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average target price of $1,342.25.

Trending Headlines about BlackRock

These are some of the BLK headlines that stood out recently:

• Positive Sentiment: BlackRock beat quarterly earnings and revenue estimates, with revenue up 19.1% year over year. Shares have gained 8.6% since that report, indicating a favorable market response. Article: Why Is BlackRock Up Since Last Earnings Report?
• Neutral Sentiment: BlackRock-managed funds disclosed large Q3 positions in Exxon Mobil, Oneok and SK hynix. These are client-fund holdings reported in a 13F, not necessarily investments on BlackRock’s own balance sheet, so the disclosures have limited direct implications for BLK. Article: BlackRock’s XOM position
• Negative Sentiment: Investors pulled $269.7 million from BlackRock’s iShares Bitcoin Trust (IBIT) on Wednesday, bringing outflows to more than $2 billion over nine sessions. Sustained redemptions could weigh on the fund’s assets and related fee revenue. Article: BlackRock Bitcoin ETF outflows hit $2B

BlackRock Company Profile

BlackRock, Inc. is a global investment management and financial technology company serving individuals, institutions, governments and other organizations. Founded in 1988, the company is headquartered in New York City and operates in markets around the world. BlackRock offers investment products and services across asset classes, including equities, fixed income, cash management and alternative investments. Its offerings include exchange-traded funds and other funds under the iShares brand, as well as portfolio management, investment advisory and risk management services.