Allspring Global Investments Holdings LLC Has $25.47 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Allspring Global Investments Holdings LLC lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,819 shares of the asset manager’s stock after selling 1,387 shares during the period. Allspring Global Investments Holdings LLC’s holdings in BlackRock were worth $25,465,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of BLK. Vest Financial LLC purchased a new position in BlackRock during the 3rd quarter valued at about $766,000. DMC Group LLC grew its stake in BlackRock by 4.0% during the 3rd quarter. DMC Group LLC now owns 1,761 shares of the asset manager’s stock valued at $1,672,000 after acquiring an additional 68 shares in the last quarter. New Century Financial Group LLC grew its stake in BlackRock by 16.8% during the 3rd quarter. New Century Financial Group LLC now owns 1,052 shares of the asset manager’s stock valued at $999,000 after acquiring an additional 151 shares in the last quarter. Resonant Capital Advisors LLC grew its stake in BlackRock by 9.1% during the 3rd quarter. Resonant Capital Advisors LLC now owns 573 shares of the asset manager’s stock valued at $544,000 after acquiring an additional 48 shares in the last quarter. Finally, Revolve Wealth Partners LLC purchased a new position in BlackRock during the 3rd quarter valued at about $268,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Down 1.3 %

BLK opened at $988.16 on Thursday. The business has a 50 day moving average price of $924.23 and a 200 day moving average price of $841.60. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $1,032.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The firm has a market cap of $146.84 billion, a P/E ratio of 25.11, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period in the previous year, the company earned $10.91 earnings per share. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. Research analysts forecast that BlackRock, Inc. will post 41.73 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BLK shares. Keefe, Bruyette & Woods lifted their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. The Goldman Sachs Group lifted their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Evercore ISI boosted their price target on BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Argus boosted their price target on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $995.31.

Insider Transactions at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,042 shares of company stock worth $56,857,777 over the last three months. 0.90% of the stock is currently owned by insiders.

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.