Premier Path Wealth Partners LLC Increases Holdings in BlackRock $BLK

Premier Path Wealth Partners LLC lifted its stake in shares of BlackRock (NYSE:BLK) by 3.0% during the second quarter, HoldingsChannel.com reports. The firm owned 3,582 shares of the asset manager’s stock after purchasing an additional 104 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in BlackRock were worth $3,759,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Fairway Wealth LLC grew its stake in BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC increased its holdings in shares of 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 purchasing an additional 15 shares during the period. Garde Capital Inc. raised its position in shares of BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after buying an additional 18 shares in the last quarter. Cheviot Value Management LLC bought a new stake in BlackRock during the first quarter valued at $30,000. Finally, Whipplewood Advisors LLC grew its position in 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 buying an additional 15 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BLK shares. Barclays boosted their price objective on BlackRock from $1,310.00 to $1,360.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. BMO Capital Markets increased their price target on shares of BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Loop Capital set a $1,255.00 price target on BlackRock in a research report on Tuesday, October 21st. Citigroup upped their price objective on BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Finally, Bank of America raised their price objective on BlackRock from $1,394.00 to $1,456.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Seventeen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,299.29.

BlackRock Trading Down 2.3%

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

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

Insider Buying and Selling

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the stock in a transaction on 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 completion of the sale, the director owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This represents a 62.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.98% of the stock is owned by corporate insiders.

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.