IFG Advisory LLC Raises Holdings in BlackRock $BLK

by · The Cerbat Gem

IFG Advisory LLC grew its position in shares of BlackRock (NYSE:BLK – Free Report) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,391 shares of the asset manager’s stock after purchasing an additional 106 shares during the period. IFG Advisory LLC’s holdings in BlackRock were worth $3,557,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Fairway Wealth LLC raised its position in shares of BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC raised its position in shares of BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 15 shares in the last quarter. Garde Capital Inc. raised its position in shares of BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after buying an additional 18 shares in the last quarter. Cheviot Value Management LLC purchased a new stake in shares of BlackRock during the 1st quarter valued at about $30,000. Finally, Whipplewood Advisors LLC raised its position in shares of BlackRock by 107.1% during the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after buying an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BLK. Jefferies Financial Group upped their target price on shares of BlackRock from $1,196.00 to $1,325.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft set a $1,320.00 target price on shares of BlackRock and gave the company a “buy” rating in a research report on Wednesday, October 15th. Keefe, Bruyette & Woods upped their target price on shares of BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Morgan Stanley increased 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 report on Wednesday, October 15th. Finally, Wells Fargo & Company reduced their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 16th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,299.29.

Read Our Latest Research Report on BlackRock

Insider Activity at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the transaction, the director directly owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.98% of the company’s stock.

BlackRock Stock Performance

BlackRock stock opened at $1,081.62 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94. The firm has a market capitalization of $167.49 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 1.90 and a beta of 1.45. The company’s 50-day moving average is $1,136.93 and its 200 day moving average is $1,061.13.

BlackRock (NYSE:BLK – Get Free Report) last issued its earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The company had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a return on equity of 15.36% and a net margin of 26.64%.BlackRock’s revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $11.46 earnings per share. Research analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Company Profile

(Free Report)

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.

Further Reading

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