Sigma Planning Corp Cuts Holdings in BlackRock, Inc. (NYSE:BLK)

Sigma Planning Corp lessened its stake in BlackRock, Inc. (NYSE:BLK) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,882 shares of the asset manager’s stock after selling 43 shares during the period. Sigma Planning Corp’s holdings in BlackRock were worth $839,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BLK. Bangor Savings Bank lifted its holdings in shares of BlackRock by 1.5% in the 2nd quarter. Bangor Savings Bank now owns 1,483 shares of the asset manager’s stock worth $696,000 after acquiring an additional 22 shares during the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of BlackRock by 4.7% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 530 shares of the asset manager’s stock worth $236,000 after acquiring an additional 24 shares during the last quarter. Pinnacle Bank lifted its holdings in shares of BlackRock by 2.7% in the 2nd quarter. Pinnacle Bank now owns 945 shares of the asset manager’s stock worth $443,000 after acquiring an additional 25 shares during the last quarter. Wambolt & Associates LLC lifted its holdings in shares of BlackRock by 2.0% in the 2nd quarter. Wambolt & Associates LLC now owns 1,306 shares of the asset manager’s stock worth $613,000 after acquiring an additional 25 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. lifted its holdings in shares of BlackRock by 1.9% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 1,313 shares of the asset manager’s stock worth $616,000 after acquiring an additional 25 shares during the last quarter. 81.96% of the stock is owned by institutional investors and hedge funds.

Shares of BLK stock opened at $488.40 on Friday. The business’s 50 day moving average is $447.74 and its two-hundred day moving average is $448.91. BlackRock, Inc. has a twelve month low of $360.79 and a twelve month high of $495.39. The company has a market capitalization of $74.57 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 1.67 and a beta of 1.54. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 0.77.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, October 15th. The asset manager reported $7.15 earnings per share for the quarter, beating the consensus estimate of $6.95 by $0.20. BlackRock had a return on equity of 13.00% and a net margin of 29.31%. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the business posted $7.52 EPS. The company’s revenue was up 3.2% on a year-over-year basis. As a group, equities analysts predict that BlackRock, Inc. will post 27.55 earnings per share for the current fiscal year.

In related news, CEO Laurence Fink sold 100 shares of BlackRock stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $457.02, for a total value of $45,702.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jerkovic Milan 3,000,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. Company insiders own 1.42% of the company’s stock.

BLK has been the subject of a number of recent research reports. Deutsche Bank upgraded shares of BlackRock from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $465.00 to $543.00 in a report on Wednesday. Barclays restated a “buy” rating and set a $485.00 price target on shares of BlackRock in a research note on Wednesday, October 9th. ValuEngine downgraded BlackRock from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their price target on BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, Morgan Stanley lifted their target price on BlackRock from $547.00 to $554.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $507.10.

BlackRock Company 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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