Chicago Partners Investment Group LLC Acquires 199 Shares of BlackRock, Inc. (NYSE:BLK)

Chicago Partners Investment Group LLC grew its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 39.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 709 shares of the asset manager’s stock after acquiring an additional 199 shares during the period. Chicago Partners Investment Group LLC’s holdings in BlackRock were worth $701,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Axxcess Wealth Management LLC raised its stake in shares of BlackRock by 35.8% during the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after acquiring an additional 1,248 shares during the last quarter. Cetera Investment Advisers raised its stake in BlackRock by 219.5% during the first quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock worth $36,737,000 after buying an additional 30,274 shares during the last quarter. M&G Plc bought a new position in BlackRock during the first quarter worth $161,918,000. GAMMA Investing LLC raised its stake in BlackRock by 62.8% during the second quarter. GAMMA Investing LLC now owns 2,291 shares of the asset manager’s stock worth $1,804,000 after buying an additional 884 shares during the last quarter. Finally, CreativeOne Wealth LLC bought a new position in BlackRock during the first quarter worth $759,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

NYSE BLK opened at $991.50 on Tuesday. BlackRock, Inc. has a 1 year low of $646.91 and a 1 year high of $1,032.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The firm has a market cap of $146.87 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 1.76 and a beta of 1.30. The company has a fifty day moving average price of $942.16 and a 200-day moving average price of $853.97.

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, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the prior year, the business posted $10.91 EPS. The business’s revenue was up 14.9% compared to the same quarter last year. As a group, equities research analysts predict that BlackRock, Inc. will post 42.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citigroup lifted their target price on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. StockNews.com started coverage on shares of BlackRock in a research note on Tuesday. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. TD Cowen raised their target price on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group upped their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $995.31.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $5,832,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 35,061 shares of company stock worth $30,734,840 in the last quarter. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Company 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.