BlackRock $BLK Shares Sold by BLB&B Advisors LLC

BLB&B Advisors LLC reduced its position in shares of BlackRock (NYSE:BLK) by 11.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 922 shares of the asset manager’s stock after selling 120 shares during the period. BLB&B Advisors LLC’s holdings in BlackRock were worth $967,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BLK. Fairway Wealth LLC raised its position in BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC raised its position in BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 15 shares in the last quarter. Garde Capital Inc. raised its position in BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after acquiring an additional 18 shares in the last quarter. Cheviot Value Management LLC bought a new stake in BlackRock in the first quarter worth about $30,000. Finally, Whipplewood Advisors LLC raised its position in BlackRock by 107.1% in the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after acquiring an additional 15 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Loop Capital set a $1,255.00 price target on shares of BlackRock in a research report on Tuesday, October 21st. Citigroup lifted their price target on BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Evercore ISI lifted their price target on BlackRock from $1,200.00 to $1,230.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Cowen reissued a “buy” rating on shares of BlackRock in a research note on Wednesday, October 15th. Finally, BNP Paribas Exane lifted their price target on BlackRock from $1,160.00 to $1,265.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,299.29.

Insider Buying and Selling at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the transaction, the director owned 7,205 shares in the company, valued at $8,394,113.20. This represents a 62.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.98% of the stock is owned by corporate insiders.

BlackRock Price Performance

Shares of BLK opened at $1,096.92 on Friday. The company has a market capitalization of $169.86 billion, a price-to-earnings ratio of 28.21, a P/E/G ratio of 1.90 and a beta of 1.45. BlackRock has a fifty-two week low of $773.74 and a fifty-two week 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. The business’s 50-day moving average is $1,138.25 and its 200-day moving average is $1,059.80.

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

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.