Grimes & Company Inc. Acquires 103 Shares of BlackRock, Inc. (NYSE:BLK)

Grimes & Company Inc. raised its holdings in BlackRock, Inc. (NYSE:BLK) by 12.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 961 shares of the asset manager’s stock after purchasing an additional 103 shares during the quarter. Grimes & Company Inc.’s holdings in BlackRock were worth $913,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new position in BlackRock in the 1st quarter valued at $27,000. Fairscale Capital LLC bought a new position in BlackRock in the 2nd quarter valued at $31,000. MFA Wealth Advisors LLC raised its position in BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares during the last quarter. Chilton Capital Management LLC bought a new position in BlackRock in the 1st quarter valued at $38,000. Finally, City Holding Co. bought a new position in BlackRock in the 3rd quarter valued at $55,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 0.4 %

Shares of BlackRock stock opened at $984.32 on Friday. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $1,032.00. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market cap of $146.27 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The business has a fifty day simple moving average of $924.23 and a 200 day simple moving average of $841.60.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the previous year, the firm earned $10.91 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. Research analysts predict that BlackRock, Inc. will post 41.73 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BLK. Evercore ISI boosted their target price on BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods boosted their target price on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. TD Cowen boosted their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Barclays boosted their target price on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Citigroup boosted their target price on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $995.31.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,042 shares of company stock valued at $56,857,777. Company insiders own 0.90% of the company’s stock.

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.