Fifth Third Wealth Advisors LLC Buys 565 Shares of BlackRock, Inc. (NYSE:BLK)

Fifth Third Wealth Advisors LLC lifted its stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 20.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,338 shares of the asset manager's stock after acquiring an additional 565 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in BlackRock were worth $3,169,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLK. Fairscale Capital LLC acquired a new stake in shares of BlackRock in the 2nd quarter valued at approximately $31,000. Reston Wealth Management LLC bought a new position in BlackRock during the 3rd quarter worth $37,000. MFA Wealth Advisors LLC lifted its holdings in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager's stock valued at $38,000 after buying an additional 20 shares during the period. Addison Advisors LLC boosted its stake in BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager's stock worth $47,000 after acquiring an additional 22 shares in the last quarter. Finally, Olistico Wealth LLC bought a new position in shares of BlackRock in the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Price Performance

BLK stock traded down $14.16 on Tuesday, hitting $1,035.81. 343,292 shares of the company's stock traded hands, compared to its average volume of 573,679. BlackRock, Inc. has a 1-year low of $712.11 and a 1-year high of $1,068.34. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market cap of $160.43 billion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 1.87 and a beta of 1.30. The stock has a fifty day moving average of $972.48 and a 200-day moving average of $873.69.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business's revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.91 EPS. On average, analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BLK shares. The Goldman Sachs Group lifted their price target on BlackRock from $960.00 to $1,040.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft increased their target price on BlackRock from $1,105.00 to $1,133.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Evercore ISI boosted their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Barclays increased their target price on BlackRock from $1,010.00 to $1,120.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Finally, StockNews.com assumed coverage on BlackRock in a report on Wednesday, November 13th. They set a "hold" rating on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,019.62.

Insider Activity at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of BlackRock 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 sale, the director now directly owns 6,480 shares in the company, valued at $5,832,000. The trade was a 64.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.