Global Strategic Investment Solutions LLC Purchases 97 Shares of BlackRock, Inc. (NYSE:BLK)

by · The Cerbat Gem

Global Strategic Investment Solutions LLC boosted its position in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 35.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 369 shares of the asset manager’s stock after buying an additional 97 shares during the quarter. Global Strategic Investment Solutions LLC’s holdings in BlackRock were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Fairscale Capital LLC bought a new stake in shares of BlackRock in the second quarter worth about $31,000. Reston Wealth Management LLC bought a new stake in shares of BlackRock in the 3rd quarter worth approximately $37,000. Chilton Capital Management LLC purchased a new position in shares of BlackRock during the first quarter valued at approximately $38,000. MFA Wealth Advisors LLC lifted its stake in BlackRock by 100.0% in the third 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. Finally, Olistico Wealth LLC bought a new stake in BlackRock in the second quarter valued at $53,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $875.03, for a total value of $10,500,360.00. Following the sale, the director now owns 6,480 shares in the company, valued at approximately $5,670,194.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 35,061 shares of company stock worth $30,734,840. 0.90% of the stock is owned by corporate insiders.

BlackRock Stock Up 1.0 %

NYSE:BLK traded up $10.26 on Thursday, reaching $1,040.08. 100,705 shares of the stock traded hands, compared to its average volume of 571,773. The company’s fifty day simple moving average is $947.54 and its 200 day simple moving average is $857.04. The company has a market capitalization of $154.07 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 1.77 and a beta of 1.30. BlackRock, Inc. has a 12 month low of $648.43 and a 12 month high of $1,057.51. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings data 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. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted $10.91 EPS. Equities analysts predict that BlackRock, Inc. will post 42.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Morgan Stanley raised their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Citigroup increased their target price on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. StockNews.com began coverage on BlackRock in a research report on Tuesday. They set a “hold” rating on the stock. Finally, UBS Group decreased their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,004.54.

Read Our Latest Report on BlackRock

BlackRock 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.

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