BlackRock $BLK Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. cut its holdings in shares of BlackRock (NYSE:BLK) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,332 shares of the asset manager’s stock after selling 1,271 shares during the period. Asset Management One Co. Ltd.’s holdings in BlackRock were worth $68,550,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLK. AlTi Global Inc. increased its holdings in shares of BlackRock by 2.7% in the second quarter. AlTi Global Inc. now owns 1,922 shares of the asset manager’s stock valued at $2,061,000 after buying an additional 51 shares in the last quarter. Avion Wealth grew its holdings in shares of BlackRock by 36.1% during the 2nd quarter. Avion Wealth now owns 49 shares of the asset manager’s stock valued at $51,000 after acquiring an additional 13 shares in the last quarter. FSM Wealth Advisors LLC bought a new stake in BlackRock in the second quarter worth $209,000. KPP Advisory Services LLC boosted its holdings in BlackRock by 1.5% in the second quarter. KPP Advisory Services LLC now owns 1,533 shares of the asset manager’s stock worth $1,608,000 after purchasing an additional 23 shares in the last quarter. Finally, First Citizens Bank & Trust Co. boosted its holdings in BlackRock by 5.8% in the second quarter. First Citizens Bank & Trust Co. now owns 3,388 shares of the asset manager’s stock worth $3,555,000 after purchasing an additional 185 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the transaction, the director directly owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the transaction, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

BlackRock Stock Performance

NYSE BLK opened at $1,125.33 on Friday. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average of $1,139.52 and a 200-day moving average of $1,049.53. The firm has a market cap of $174.26 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 1.95 and a beta of 1.45.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The company had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same period last year, the company earned $11.46 earnings per share. BlackRock’s revenue for the quarter was up 25.2% compared to the same quarter last year. On average, equities analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BLK has been the subject of a number of research analyst reports. Citigroup boosted their target price on shares of BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. BNP Paribas Exane boosted their target price on shares of BlackRock from $1,160.00 to $1,265.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Barclays upped their price objective on shares of BlackRock from $1,310.00 to $1,360.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Finally, TD Cowen upped their price objective on shares of BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,299.29.

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.