BlackRock, Inc. (NYSE:BLK) Shares Sold by Allworth Financial LP

Allworth Financial LP lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 4.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,502 shares of the asset manager’s stock after selling 62 shares during the period. Allworth Financial LP’s holdings in BlackRock were worth $1,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Axxcess Wealth Management LLC increased its holdings in shares of BlackRock by 35.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after buying an additional 1,248 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of BlackRock by 3.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock worth $322,810,000 after purchasing an additional 14,477 shares during the period. Oak Harvest Investment Services purchased a new position in shares of BlackRock during the 1st quarter worth approximately $6,735,000. Cetera Investment Advisers boosted its position in shares of BlackRock by 219.5% during the 1st quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock worth $36,737,000 after purchasing an additional 30,274 shares during the period. Finally, M&G Plc purchased a new position in shares of BlackRock during the 1st quarter worth approximately $161,918,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of NYSE:BLK opened at $987.24 on Tuesday. The company’s fifty day moving average price is $930.84 and its 200 day moving average price is $845.90. BlackRock, Inc. has a 12 month low of $600.26 and a 12 month high of $1,032.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The firm has a market capitalization of $146.70 billion, a P/E ratio of 25.09, a P/E/G ratio of 1.94 and a beta of 1.30.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Argus increased their price objective on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Citigroup raised their price target on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. UBS Group decreased their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Barclays raised their price target on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $995.31.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction on Friday, August 2nd. The shares were 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 owns 5,732 shares in the company, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,042 shares of company stock worth $56,857,777 in the last ninety days. 0.90% of the stock is owned by corporate 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.