Forum Financial Management LP Has $1.52 Million Position in BlackRock $BLK

Forum Financial Management LP lowered its holdings in shares of BlackRock (NYSE:BLK) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,445 shares of the asset manager’s stock after selling 90 shares during the period. Forum Financial Management LP’s holdings in BlackRock were worth $1,516,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fairway Wealth LLC lifted its holdings in shares of BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 13 shares during the period. Game Plan Financial Advisors LLC lifted its holdings in shares of BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 15 shares during the period. Garde Capital Inc. lifted its holdings in shares of BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 18 shares during the period. Cheviot Value Management LLC bought a new position in shares of BlackRock during the first quarter valued at $30,000. Finally, MorganRosel Wealth Management LLC bought a new position in shares of BlackRock during the first quarter valued at $31,000. 80.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on BLK shares. TD Cowen lifted their price objective on BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft set a $1,320.00 price objective on BlackRock and gave the company a “buy” rating in a report on Wednesday, October 15th. Loop Capital set a $1,255.00 price target on BlackRock in a report on Tuesday. BNP Paribas Exane lifted their price target on BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Finally, Bank of America lifted their price target on BlackRock from $1,394.00 to $1,456.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $1,299.29.

BlackRock Price Performance

Shares of BLK opened at $1,127.42 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The stock has a 50 day simple moving average of $1,140.24 and a 200 day simple moving average of $1,047.41. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,219.94. The firm has a market capitalization of $174.58 billion, a PE ratio of 28.99, a P/E/G ratio of 1.95 and a beta of 1.45.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (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 business had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.22 billion. During the same quarter in the prior year, the firm posted $11.46 earnings per share. BlackRock’s revenue for the quarter was up 25.2% compared to the same quarter last year. Sell-side analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 12,054 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the completion of the sale, the chief executive officer directly owned 251,697 shares of the company’s stock, valued at approximately $283,267,354.71. The trade was a 4.57% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,232 shares of company stock worth $67,055,346. Corporate insiders own 1.98% of the company’s stock.

BlackRock Company 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.