Empowered Funds LLC Acquires 228 Shares of BlackRock, Inc. (NYSE:BLK)

Empowered Funds LLC boosted its holdings in BlackRock, Inc. (NYSE:BLK) by 9.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,713 shares of the asset manager’s stock after acquiring an additional 228 shares during the period. Empowered Funds LLC’s holdings in BlackRock were worth $2,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Fairscale Capital LLC bought a new stake in BlackRock in the 2nd quarter valued at $31,000. Reston Wealth Management LLC bought a new position in BlackRock during the 3rd quarter worth $37,000. MFA Wealth Advisors LLC increased its position in BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after buying an additional 20 shares during the period. Addison Advisors LLC increased its position in BlackRock by 81.5% during the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after buying an additional 22 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in BlackRock during the 3rd quarter worth $54,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BLK. StockNews.com began coverage on BlackRock in a report on Wednesday, November 13th. They set a “hold” rating on the stock. Evercore ISI increased their target price on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their price objective on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Morgan Stanley raised their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,019.62.

BlackRock Price Performance

Shares of BLK opened at $1,028.38 on Wednesday. BlackRock, Inc. has a 1 year low of $712.11 and a 1 year high of $1,068.34. 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 company has a market capitalization of $159.28 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 1.87 and a beta of 1.30. The business has a 50-day moving average of $975.38 and a 200-day moving average of $875.55.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period last year, the company earned $10.91 earnings per share. The firm’s revenue was up 14.9% compared to the same quarter last year. As a group, equities research analysts anticipate that BlackRock, Inc. will post 43.17 earnings per share for the current year.

Insider Transactions at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on 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 sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.90% 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.