BlackRock $BLK Shares Acquired by Amalgamated Bank

Amalgamated Bank grew its position in BlackRock (NYSE:BLK) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,340 shares of the asset manager’s stock after acquiring an additional 336 shares during the quarter. Amalgamated Bank’s holdings in BlackRock were worth $30,785,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Garde Capital Inc. lifted its holdings in shares of BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after purchasing an additional 18 shares during the period. Whipplewood Advisors LLC lifted its holdings in shares of BlackRock by 107.1% during the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after purchasing an additional 15 shares during the period. Fairway Wealth LLC lifted its holdings in shares of BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 13 shares during the period. Game Plan Financial Advisors LLC raised its position in BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 15 shares in the last quarter. Finally, Mid American Wealth Advisory Group Inc. purchased a new position in BlackRock in the second quarter worth $34,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Trading Down 2.3%

BlackRock stock opened at $1,098.88 on Thursday. The stock has a market cap of $170.16 billion, a PE ratio of 28.26, a P/E/G ratio of 1.95 and a beta of 1.45. The stock has a 50-day moving average price of $1,138.79 and a 200 day moving average price of $1,059.55. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The company 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 company’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $11.46 EPS. Equities research analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on BLK shares. Barclays increased their price objective 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of BlackRock in a research report on Wednesday, October 8th. TD Cowen increased their price objective on BlackRock from $1,301.00 to $1,407.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Citigroup increased their price objective on BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Finally, Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,299.29.

Insider Buying and Selling

In other BlackRock news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction dated 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 completion of the sale, the director owned 7,205 shares in the company, valued at $8,394,113.20. The trade was a 62.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.98% of the stock is 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.