BlackRock, Inc. (NYSE:BLK) Holdings Reduced by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC decreased its position in BlackRock, Inc. (NYSE:BLK) by 30.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,226 shares of the asset manager’s stock after selling 531 shares during the period. Lake Street Private Wealth LLC’s holdings in BlackRock were worth $1,164,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of BLK. Greenleaf Trust boosted its holdings in shares of BlackRock by 2.6% in the third quarter. Greenleaf Trust now owns 6,989 shares of the asset manager’s stock valued at $6,636,000 after acquiring an additional 179 shares in the last quarter. Meadow Creek Wealth Advisors LLC bought a new position in shares of BlackRock in the third quarter valued at approximately $269,000. Marietta Wealth Management LLC boosted its holdings in shares of BlackRock by 2.8% in the third quarter. Marietta Wealth Management LLC now owns 8,007 shares of the asset manager’s stock valued at $7,603,000 after acquiring an additional 217 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of BlackRock by 1.2% in the third quarter. Private Advisor Group LLC now owns 12,035 shares of the asset manager’s stock valued at $11,427,000 after acquiring an additional 142 shares in the last quarter. Finally, Pictet North America Advisors SA boosted its holdings in shares of BlackRock by 6.9% in the third quarter. Pictet North America Advisors SA now owns 760 shares of the asset manager’s stock valued at $722,000 after acquiring an additional 49 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 0.9 %

BlackRock stock traded down $8.80 during trading hours on Wednesday, hitting $992.01. The company had a trading volume of 98,335 shares, compared to its average volume of 573,855. The firm has a market capitalization of $147.41 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. 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’s fifty day moving average is $921.62 and its 200-day moving average is $840.57. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $1,032.00.

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

Insider Buying and Selling at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of the 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 transaction, the director now owns 5,732 shares in the company, valued at $4,826,802.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Laurence Fink sold 29,450 shares of the firm’s 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Pamela Daley sold 1,531 shares of the firm’s 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 $4,826,802.56. 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 quarter, insiders have sold 66,042 shares of company stock worth $56,857,777. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on BLK. TD Cowen increased their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Argus increased their price objective on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. The Goldman Sachs Group increased their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. UBS Group cut their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Barclays increased their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $995.31.

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.