Empowered Funds LLC Has $2.58 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Empowered Funds LLC boosted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 9.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,713 shares of the asset manager’s stock after buying an additional 228 shares during the quarter. Empowered Funds LLC’s holdings in BlackRock were worth $2,576,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Bessemer Group Inc. lifted its position in BlackRock by 19.1% during the 1st quarter. Bessemer Group Inc. now owns 2,677 shares of the asset manager’s stock worth $2,232,000 after acquiring an additional 429 shares during the last quarter. Natixis bought a new stake in BlackRock during the 1st quarter valued at approximately $390,000. Crewe Advisors LLC acquired a new stake in BlackRock in the 1st quarter valued at approximately $186,000. CreativeOne Wealth LLC bought a new position in BlackRock in the 1st quarter worth approximately $759,000. Finally, Axxcess Wealth Management LLC raised its stake in BlackRock by 35.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after purchasing an additional 1,248 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 6,480 shares in the company, valued at $5,832,000. This represents a 64.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BLK shares. Barclays lifted 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. Evercore ISI lifted their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of 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, TD Cowen boosted their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Price Performance

Shares of BLK opened at $1,028.38 on Wednesday. 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 stock has a 50 day simple moving average of $975.38 and a 200 day simple moving average of $875.55. BlackRock, Inc. has a 52-week low of $712.11 and a 52-week high of $1,068.34. The firm has a market capitalization of $159.28 billion, a PE ratio of 25.38, a P/E/G ratio of 1.87 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share 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 firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the prior year, the firm posted $10.91 EPS. The business’s revenue was up 14.9% on a year-over-year basis. Sell-side analysts predict that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

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.