National Asset Management Inc. increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 32.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,466 shares of the asset manager’s stock after purchasing an additional 362 shares during the period. National Asset Management Inc.’s holdings in BlackRock were worth $692,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Xact Kapitalforvaltning AB grew its position in BlackRock by 2.5% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 28,883 shares of the asset manager’s stock worth $14,414,000 after purchasing an additional 710 shares during the last quarter. Cornerstone Wealth Management LLC purchased a new stake in shares of BlackRock in the second quarter valued at about $377,000. Creative Planning boosted its holdings in shares of BlackRock by 39.3% in the second quarter. Creative Planning now owns 8,723 shares of the asset manager’s stock valued at $4,353,000 after acquiring an additional 2,460 shares in the last quarter. Sumitomo Life Insurance Co. boosted its holdings in shares of BlackRock by 4.2% in the second quarter. Sumitomo Life Insurance Co. now owns 3,552 shares of the asset manager’s stock valued at $1,773,000 after acquiring an additional 143 shares in the last quarter. Finally, Patriot Wealth Management Inc. boosted its holdings in shares of BlackRock by 93.4% in the second quarter. Patriot Wealth Management Inc. now owns 16,263 shares of the asset manager’s stock valued at $8,116,000 after acquiring an additional 7,856 shares in the last quarter. 80.42% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE BLK opened at $411.00 on Monday. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.76. BlackRock, Inc. has a 52 week low of $376.31 and a 52 week high of $594.52. The stock has a market capitalization of $64.82 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.23 and a beta of 1.54.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, October 16th. The asset manager reported $7.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $6.93 by $0.59. BlackRock had a net margin of 39.92% and a return on equity of 13.72%. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter last year, the business earned $5.76 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, research analysts anticipate that BlackRock, Inc. will post 27.84 EPS for the current fiscal year.

In related news, Director William E. Ford acquired 2,000 shares of BlackRock stock in a transaction that occurred on Monday, October 22nd. The stock was purchased at an average price of $395.21 per share, for a total transaction of $790,420.00. Following the completion of the purchase, the director now directly owns 9,466 shares of the company’s stock, valued at $3,741,057.86. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.75% of the stock is owned by company insiders.

Several analysts have recently weighed in on the stock. Argus lowered their target price on shares of BlackRock from $620.00 to $535.00 and set a “buy” rating on the stock in a report on Wednesday, October 17th. ValuEngine downgraded shares of BlackRock from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Wells Fargo & Co lowered their target price on shares of BlackRock from $545.00 to $510.00 and set a “market perform” rating on the stock in a report on Thursday, October 11th. Deutsche Bank reaffirmed a “buy” rating and issued a $550.00 target price (down previously from $559.00) on shares of BlackRock in a report on Thursday, October 11th. Finally, JPMorgan Chase & Co. raised shares of BlackRock to an “overweight” rating in a report on Tuesday, October 9th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. BlackRock currently has a consensus rating of “Buy” and an average price target of $554.31.

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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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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