RWA Wealth Partners LLC Sells 264 Shares of BlackRock $BLK

RWA Wealth Partners LLC trimmed its holdings in BlackRock (NYSE:BLK) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,549 shares of the asset manager’s stock after selling 264 shares during the period. RWA Wealth Partners LLC’s holdings in BlackRock were worth $25,759,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of BLK. AE Wealth Management LLC lifted its position in BlackRock by 25.9% during the 2nd quarter. AE Wealth Management LLC now owns 1,929 shares of the asset manager’s stock worth $2,024,000 after buying an additional 397 shares in the last quarter. Summit Wealth & Retirement Planning Inc. bought a new position in shares of BlackRock during the 2nd quarter worth approximately $466,000. Miller Investment Management LP acquired a new position in shares of BlackRock in the second quarter valued at $221,000. Rovin Capital UT ADV bought a new position in BlackRock in the 2nd quarter valued at about $304,000. Finally, Aspect Partners LLC increased its stake in shares of BlackRock by 66.7% during the second quarter. Aspect Partners LLC now owns 35 shares of the asset manager’s stock worth $37,000 after purchasing an additional 14 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BLK shares. Morgan Stanley upped their price target on shares of BlackRock from $1,362.00 to $1,486.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Zacks Research lowered shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Bank of America raised their target price on shares of BlackRock from $1,394.00 to $1,456.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. BMO Capital Markets raised their price objective on BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Finally, TD Cowen upped their target price on 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 assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,299.29.

Insider Transactions at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction that occurred 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 sale, the director directly owned 7,205 shares in the company, valued at $8,394,113.20. This trade represents a 62.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.98% of the stock is currently owned by company insiders.

BlackRock Stock Up 1.1%

Shares of NYSE:BLK opened at $1,081.66 on Friday. 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 52-week low of $773.74 and a 52-week high of $1,219.94. The company has a market capitalization of $167.50 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48. The company has a fifty day moving average of $1,130.62 and a 200-day moving average of $1,068.02.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The firm had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.22 billion. During the same period in the previous year, the company earned $11.46 EPS. BlackRock’s revenue for the quarter was up 25.2% on a year-over-year basis. On average, equities analysts predict 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.