GLOBALT Investments LLC GA Sells 45 Shares of BlackRock $BLK

GLOBALT Investments LLC GA decreased its holdings in shares of BlackRock (NYSE:BLK) by 4.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 992 shares of the asset manager’s stock after selling 45 shares during the period. GLOBALT Investments LLC GA’s holdings in BlackRock were worth $1,041,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BLK. Brighton Jones LLC increased its position in shares of BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after acquiring an additional 296 shares in the last quarter. Bison Wealth LLC increased its position in shares of BlackRock by 1.6% during the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock valued at $1,078,000 after acquiring an additional 17 shares in the last quarter. GAMMA Investing LLC increased its position in shares of BlackRock by 10.6% during the first quarter. GAMMA Investing LLC now owns 3,698 shares of the asset manager’s stock valued at $3,500,000 after acquiring an additional 355 shares in the last quarter. Nemes Rush Group LLC bought a new stake in shares of BlackRock during the first quarter valued at approximately $208,000. Finally, Spire Wealth Management increased its position in shares of BlackRock by 11.9% during the first quarter. Spire Wealth Management now owns 1,661 shares of the asset manager’s stock valued at $1,572,000 after acquiring an additional 177 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the sale, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. The trade was a 21.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the completion of the sale, the director owned 7,205 shares in the company, valued at approximately $8,394,113.20. This trade represents a 62.48% 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 Trading Up 1.2%

Shares of BlackRock stock opened at $1,138.60 on Friday. The company’s fifty day simple moving average is $1,139.57 and its 200-day simple moving average is $1,051.77. The stock has a market capitalization of $176.31 billion, a PE ratio of 29.28, a P/E/G ratio of 1.95 and a beta of 1.45. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BLK shares. JPMorgan Chase & Co. raised their price target 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. UBS Group restated a “hold” rating on shares of BlackRock in a report on Tuesday. Argus raised their target price on shares of BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Cowen restated a “buy” rating on shares of BlackRock in a report on Wednesday, October 15th. Finally, BNP Paribas Exane raised their target price on shares of BlackRock from $1,160.00 to $1,265.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,299.29.

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.