Pathway Financial Advisers LLC Increases Position in BlackRock, Inc. (NYSE:BLK)

Pathway Financial Advisers LLC raised its holdings in BlackRock, Inc. (NYSE:BLK - Free Report) by 89,389.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,046,131 shares of the asset manager's stock after acquiring an additional 1,044,962 shares during the quarter. BlackRock comprises approximately 6.4% of Pathway Financial Advisers LLC's holdings, making the stock its 4th largest position. Pathway Financial Advisers LLC owned about 0.70% of BlackRock worth $993,312,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC bought a new stake in BlackRock during the first quarter worth approximately $27,000. Fairscale Capital LLC bought a new stake in shares of BlackRock during the 2nd quarter worth $31,000. MFA Wealth Advisors LLC raised its holdings in BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager's stock worth $38,000 after acquiring an additional 20 shares during the period. Chilton Capital Management LLC acquired a new position in BlackRock during the 1st quarter worth $38,000. Finally, City Holding Co. acquired a new stake in shares of BlackRock in the third quarter valued at about $55,000. 80.69% of the stock is owned by institutional investors.

BlackRock Price Performance

Shares of BLK traded down $9.93 on Friday, hitting $974.07. The company's stock had a trading volume of 433,666 shares, compared to its average volume of 573,772. The company has a 50 day moving average price of $928.50 and a 200 day moving average price of $843.77. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $1,032.00. The company has a market capitalization of $144.75 billion, a PE ratio of 24.75, a PEG ratio of 1.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business's revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.91 earnings per share. On average, research analysts anticipate that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Pamela Daley sold 1,531 shares of the firm's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now owns 5,732 shares in the company, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Pamela Daley sold 1,531 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the firm's stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,042 shares of company stock valued at $56,857,777. Insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. TD Cowen increased their target price on BlackRock from $960.00 to $1,077.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Citigroup boosted their target price on shares of BlackRock from $920.00 to $930.00 and gave the stock a "buy" rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft increased their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a "buy" rating in a report on Thursday, August 15th. Wells Fargo & Company upped their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th. Finally, Argus raised their target price on BlackRock from $880.00 to $910.00 and gave the stock a "buy" rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $995.31.

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.