Envestnet Asset Management Inc. Increases Holdings in BlackRock, Inc. (NYSE:BLK)

Envestnet Asset Management Inc. grew its holdings in BlackRock, Inc. (NYSE:BLK) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 195,491 shares of the asset manager’s stock after purchasing an additional 5,442 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.13% of BlackRock worth $87,118,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BLK. Bangor Savings Bank raised its holdings in shares of BlackRock by 1.5% in the second quarter. Bangor Savings Bank now owns 1,483 shares of the asset manager’s stock valued at $696,000 after purchasing an additional 22 shares during the last quarter. SeaCrest Wealth Management LLC grew its stake in shares of BlackRock by 4.7% in the third quarter. SeaCrest Wealth Management LLC now owns 530 shares of the asset manager’s stock valued at $236,000 after buying an additional 24 shares in the last quarter. Pinnacle Bank grew its stake in shares of BlackRock by 2.7% in the second quarter. Pinnacle Bank now owns 945 shares of the asset manager’s stock valued at $443,000 after buying an additional 25 shares in the last quarter. Wambolt & Associates LLC grew its stake in shares of BlackRock by 2.0% in the second quarter. Wambolt & Associates LLC now owns 1,306 shares of the asset manager’s stock valued at $613,000 after buying an additional 25 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. grew its stake in shares of BlackRock by 1.9% in the second quarter. C M Bidwell & Associates Ltd. now owns 1,313 shares of the asset manager’s stock valued at $616,000 after buying an additional 25 shares in the last quarter. 81.96% of the stock is currently owned by institutional investors.

BLK has been the subject of several analyst reports. Wells Fargo & Co reissued a “hold” rating on shares of BlackRock in a research note on Tuesday, October 15th. ValuEngine cut shares of BlackRock from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Barclays reaffirmed a “buy” rating and set a $485.00 price objective on shares of BlackRock in a research report on Wednesday, October 9th. BMO Capital Markets began coverage on shares of BlackRock in a research report on Monday, October 7th. They set a “market perform” rating and a $547.00 price objective for the company. Finally, Credit Suisse Group set a $567.00 price objective on shares of BlackRock and gave the stock a “buy” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. BlackRock presently has a consensus rating of “Buy” and a consensus price target of $507.10.

BLK stock traded up $0.05 during midday trading on Friday, reaching $490.21. The company had a trading volume of 348,812 shares, compared to its average volume of 571,106. The company has a market capitalization of $74.57 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 1.67 and a beta of 1.54. The stock has a 50 day moving average price of $448.65 and a 200-day moving average price of $449.03. BlackRock, Inc. has a 1-year low of $360.79 and a 1-year high of $495.39. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.92 and a quick ratio of 2.92.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 15th. The asset manager reported $7.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $6.95 by $0.20. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.69 billion. BlackRock had a return on equity of 13.00% and a net margin of 29.31%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.52 earnings per share. As a group, research analysts anticipate that BlackRock, Inc. will post 27.55 earnings per share for the current year.

In other BlackRock news, insider Jerkovic Milan 3,000,000 shares of the firm’s stock in a transaction on Thursday, October 24th. Also, Director J. Richard Kushel sold 2,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $446.74, for a total value of $893,480.00. The disclosure for this sale can be found here. 1.42% of the stock is currently owned by 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.

Featured Story: Limitations to arbitrage trading

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.