Salomon & Ludwin LLC Sells 18 Shares of BlackRock, Inc. (NYSE:BLK)

Salomon & Ludwin LLC decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 15.8% in the third quarter, Holdings Channel reports. The firm owned 96 shares of the asset manager’s stock after selling 18 shares during the quarter. Salomon & Ludwin LLC’s holdings in BlackRock were worth $91,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in BLK. Axxcess Wealth Management LLC lifted its holdings in BlackRock by 35.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after purchasing an additional 1,248 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of BlackRock by 3.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock valued at $322,810,000 after acquiring an additional 14,477 shares during the last quarter. Oak Harvest Investment Services bought a new stake in BlackRock during the 1st quarter worth approximately $6,735,000. Cetera Investment Advisers increased its holdings in BlackRock by 219.5% during the 1st quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock valued at $36,737,000 after purchasing an additional 30,274 shares in the last quarter. Finally, M&G Plc acquired a new position in BlackRock in the first quarter worth $161,918,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on BLK. The Goldman Sachs Group raised their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company boosted their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. StockNews.com began coverage on BlackRock in a research report on Monday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. boosted their target price on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Finally, TD Cowen lifted their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $995.31.

BlackRock Stock Up 1.4 %

NYSE BLK opened at $987.24 on Tuesday. The company has a market cap of $146.70 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a 1-year low of $600.26 and a 1-year high of $1,032.00. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average of $930.84 and a 200-day moving average of $845.90.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating 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 firm earned $10.91 EPS. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, equities research analysts expect that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

Insider Activity at BlackRock

In other news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 transaction, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Wiedman sold 11,061 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $852.95, for a total value of $9,434,479.95. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,527,116. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,042 shares of company stock valued at $56,857,777. 0.90% of the stock is owned by insiders.

BlackRock 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.