BlackRock $BLK Shares Purchased by Strategic Blueprint LLC

Key Points

• Strategic Blueprint LLC has significantly increased its stake in BlackRock, purchasing an additional 720 shares and boosting its holdings by 164.4%, valuing them at approximately $1.2 million as of the latest SEC filing.
• In recent insider trading, BlackRock's Director Rachel Lord sold 12,000 shares for nearly $14 million, which represents a 62.48% decrease in her shareholding.
• Analysts are optimistic about BlackRock, with several firms raising their price targets and maintaining "overweight" or "buy" ratings, reflecting a consensus rating of "Moderate Buy" for the stock.

Strategic Blueprint LLC increased its holdings in BlackRock (NYSE:BLK - Free Report) by 164.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,158 shares of the asset manager's stock after buying an additional 720 shares during the quarter. Strategic Blueprint LLC's holdings in BlackRock were worth $1,215,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fairway Wealth LLC increased its holdings in BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after buying an additional 13 shares during the period. Game Plan Financial Advisors LLC increased its holdings in BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock worth $28,000 after buying an additional 15 shares during the period. Garde Capital Inc. increased its holdings in BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock worth $28,000 after buying an additional 18 shares during the period. Cheviot Value Management LLC acquired a new position in BlackRock in the 1st quarter worth approximately $30,000. Finally, MorganRosel Wealth Management LLC acquired a new position in BlackRock in the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Insiders Place Their Bets

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the firm's stock in a transaction on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the completion of the sale, the director directly owned 7,205 shares of the company's stock, valued at $8,394,113.20. This trade represents a 62.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director directly owned 61,369 shares of the company's stock, valued at $68,763,964.50. This trade represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a report on Wednesday, July 16th. TD Cowen raised their price objective on shares of BlackRock from $1,301.00 to $1,407.00 and gave the stock a "buy" rating in a research note on Wednesday, October 15th. Barclays raised their price objective on shares of BlackRock from $1,310.00 to $1,360.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 15th. Bank of America raised their price objective on shares of BlackRock from $1,394.00 to $1,456.00 and gave the stock a "buy" rating in a research note on Wednesday, October 15th. Finally, Morgan Stanley raised their price objective on shares of BlackRock from $1,362.00 to $1,486.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 15th. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,299.29.

BlackRock Trading Up 1.2%

Shares of BLK stock opened at $1,138.60 on Friday. The stock's fifty day moving average is $1,139.57 and its two-hundred day moving average is $1,051.77. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The firm has a market capitalization of $176.31 billion, a P/E ratio of 29.28, a PEG ratio of 1.95 and a beta of 1.45. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,219.94.

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

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.

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