Greenleaf Trust Boosts Stock Position in BlackRock, Inc. (NYSE:BLK)

Greenleaf Trust boosted its holdings in BlackRock, Inc. (NYSE:BLK) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,989 shares of the asset manager’s stock after acquiring an additional 179 shares during the quarter. Greenleaf Trust’s holdings in BlackRock were worth $6,636,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BLK. Redmont Wealth Advisors LLC bought a new position in shares of BlackRock during the 1st quarter valued at $27,000. Fairscale Capital LLC purchased a new stake in shares of BlackRock in the 2nd quarter worth $31,000. Chilton Capital Management LLC purchased a new stake in shares of BlackRock in the 1st quarter worth $38,000. City Holding Co. purchased a new stake in shares of BlackRock in the 3rd quarter worth $55,000. Finally, Olistico Wealth LLC purchased a new stake in shares of BlackRock in the 2nd quarter worth $53,000. 80.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BLK has been the topic of a number of research analyst reports. StockNews.com initiated coverage on BlackRock in a research report on Sunday. They issued a “hold” rating on the stock. UBS Group decreased their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their target price on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft boosted their target price on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, 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. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $995.31.

BlackRock Stock Performance

Shares of NYSE BLK traded down $2.26 during mid-day trading on Wednesday, hitting $998.55. The stock had a trading volume of 29,785 shares, compared to its average volume of 573,500. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company has a 50 day moving average of $921.62 and a two-hundred day moving average of $840.57. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $1,032.00. The firm has a market cap of $148.38 billion, a PE ratio of 25.43, a PEG ratio of 1.94 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 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 for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period last year, the firm earned $10.91 EPS. The company’s quarterly 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 fiscal year.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,042 shares of company stock valued at $56,857,777 in the last ninety days. 0.90% of the stock is currently owned by corporate 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.