Narwhal Capital Management Buys 357 Shares of BlackRock, Inc. (NYSE:BLK)

Narwhal Capital Management increased its stake in BlackRock, Inc. (NYSE:BLK) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,235 shares of the asset manager’s stock after acquiring an additional 357 shares during the quarter. BlackRock accounts for approximately 1.8% of Narwhal Capital Management’s portfolio, making the stock its 13th largest position. Narwhal Capital Management’s holdings in BlackRock were worth $11,403,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of BlackRock by 40.2% in the 2nd quarter. Vanguard Group Inc. now owns 12,955,301 shares of the asset manager’s stock worth $7,048,850,000 after acquiring an additional 3,714,710 shares in the last quarter. FMR LLC lifted its holdings in BlackRock by 182.3% during the second quarter. FMR LLC now owns 3,699,444 shares of the asset manager’s stock valued at $2,012,831,000 after purchasing an additional 2,388,836 shares during the last quarter. BlackRock Inc. lifted its holdings in BlackRock by 21.0% during the second quarter. BlackRock Inc. now owns 9,986,435 shares of the asset manager’s stock valued at $5,433,521,000 after purchasing an additional 1,731,325 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in BlackRock by 929.0% during the second quarter. Canada Pension Plan Investment Board now owns 646,983 shares of the asset manager’s stock valued at $352,017,000 after purchasing an additional 584,108 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in BlackRock by 57.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,583,232 shares of the asset manager’s stock valued at $861,421,000 after purchasing an additional 577,342 shares during the last quarter. Institutional investors own 79.21% of the company’s stock.

In other BlackRock news, Director Mark Wiedman sold 360 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $583.20, for a total value of $209,952.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.42% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently weighed in on the company. BMO Capital Markets upped their price target on BlackRock from $594.00 to $602.00 and gave the company a “market perform” rating in a research report on Thursday, October 15th. They noted that the move was a valuation call. Wells Fargo & Company reiterated a “buy” rating on shares of BlackRock in a research report on Wednesday, October 14th. Morgan Stanley upped their price objective on shares of BlackRock from $652.00 to $686.00 and gave the stock an “overweight” rating in a research report on Friday, October 9th. Argus upped their price objective on shares of BlackRock from $530.00 to $640.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Barclays upped their price objective on shares of BlackRock from $625.00 to $700.00 in a research report on Wednesday, October 14th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $635.42.

Shares of BlackRock stock opened at $614.53 on Wednesday. The stock’s fifty day moving average is $585.70 and its two-hundred day moving average is $552.53. The company has a market capitalization of $93.71 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 2.20 and a beta of 1.23. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 0.66. BlackRock, Inc. has a 52 week low of $323.98 and a 52 week high of $666.64.

BlackRock (NYSE:BLK) last issued its earnings results on Sunday, October 18th. The asset manager reported $9.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $7.45 by $1.77. BlackRock had a return on equity of 15.00% and a net margin of 29.83%. The business had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the prior year, the business earned $7.15 EPS. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, research analysts anticipate that BlackRock, Inc. will post 32.06 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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