BlackRock $BLK Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC trimmed its position in shares of BlackRock (NYSE:BLK) by 63.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,233 shares of the asset manager’s stock after selling 2,098 shares during the period. Transcend Capital Advisors LLC’s holdings in BlackRock were worth $1,294,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Garde Capital Inc. increased its holdings in BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 18 shares in the last quarter. Whipplewood Advisors LLC increased its holdings in BlackRock by 107.1% in the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 15 shares in the last quarter. Fairway Wealth LLC increased its holdings in BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC increased its holdings in BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 15 shares in the last quarter. Finally, Mid American Wealth Advisory Group Inc. acquired a new stake in BlackRock in the 2nd quarter valued at $34,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

Shares of BLK stock opened at $1,130.06 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The company’s 50-day simple moving average is $1,139.45 and its 200-day simple moving average is $1,056.13. The stock has a market capitalization of $174.99 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 1.97 and a beta of 1.45.

BlackRock (NYSE:BLK) last issued 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 return on equity of 15.36% and a net margin of 26.64%.The company had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same period in the previous year, the business posted $11.46 EPS. The business’s revenue for the quarter was up 25.2% on a year-over-year basis. Equities analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

Insider Activity

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

Analyst Upgrades and Downgrades

BLK has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their price target on BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Bank of America raised their target price on BlackRock from $1,394.00 to $1,456.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Cowen restated a “buy” rating on shares of BlackRock in a research note on Wednesday, October 15th. TD Cowen raised their target price on BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Citigroup raised their target price on BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Seventeen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average price target 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.