Turtle Creek Wealth Advisors LLC Buys 234 Shares of BlackRock, Inc. (NYSE:BLK)

Turtle Creek Wealth Advisors LLC increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 3.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,627 shares of the asset manager’s stock after buying an additional 234 shares during the period. BlackRock accounts for approximately 1.3% of Turtle Creek Wealth Advisors LLC’s investment portfolio, making the stock its 23rd biggest position. Turtle Creek Wealth Advisors LLC’s holdings in BlackRock were worth $6,292,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its holdings in shares of BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares during the period. Ameriprise Financial Inc. raised its stake in BlackRock by 2.9% in the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after buying an additional 46,728 shares during the period. Legal & General Group Plc lifted its position in shares of BlackRock by 1.9% in the second quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after buying an additional 22,311 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of BlackRock by 89,389.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after acquiring an additional 1,044,962 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of BlackRock by 104,468.9% during the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after acquiring an additional 791,874 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Transactions at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BLK has been the subject of several research reports. Wells Fargo & Company raised their price target on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Evercore ISI lifted 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. StockNews.com initiated coverage on shares of BlackRock in a report on Wednesday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. boosted their price objective on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, TD Cowen lifted their price target on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Price Performance

BlackRock stock traded up $0.29 during trading hours on Friday, reaching $1,047.37. 583,514 shares of the stock were exchanged, compared to its average volume of 574,763. 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, Inc. has a twelve month low of $708.75 and a twelve month high of $1,068.34. The company has a market cap of $155.14 billion, a P/E ratio of 25.84, a price-to-earnings-growth ratio of 1.84 and a beta of 1.30. The stock has a 50 day moving average of $969.04 and a two-hundred day moving average of $869.97.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period last year, the firm posted $10.91 earnings per share. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Equities analysts expect that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

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.