First Financial Bankshares Inc Trims Holdings in BlackRock, Inc. (NYSE:BLK)

First Financial Bankshares Inc trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,842 shares of the asset manager’s stock after selling 197 shares during the quarter. BlackRock comprises about 1.3% of First Financial Bankshares Inc’s holdings, making the stock its 27th largest position. First Financial Bankshares Inc’s holdings in BlackRock were worth $60,619,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. J.W. Cole Advisors Inc. lifted its stake in shares of BlackRock by 7.2% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 985 shares of the asset manager’s stock valued at $935,000 after acquiring an additional 66 shares during the last quarter. State of Alaska Department of Revenue raised its position in BlackRock by 1.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 16,796 shares of the asset manager’s stock valued at $15,947,000 after purchasing an additional 275 shares during the last quarter. Financial Management Professionals Inc. raised its position in BlackRock by 962.2% during the 3rd quarter. Financial Management Professionals Inc. now owns 393 shares of the asset manager’s stock valued at $373,000 after purchasing an additional 356 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in BlackRock by 2.8% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 722 shares of the asset manager’s stock valued at $685,000 after purchasing an additional 20 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its position in BlackRock by 0.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 4,608 shares of the asset manager’s stock valued at $4,375,000 after purchasing an additional 31 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Down 1.0 %

Shares of NYSE BLK opened at $974.07 on Monday. 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 company has a market cap of $144.75 billion, a P/E ratio of 24.75, a PEG ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $1,032.00. The firm has a 50-day simple moving average of $928.50 and a two-hundred day simple moving average of $844.48.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (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 business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter last year, the firm earned $10.91 earnings per share. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Research analysts anticipate that BlackRock, Inc. will post 41.73 earnings per share for the current year.

Insider Activity

In other news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction that occurred 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 sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other BlackRock news, Director Mark Wiedman sold 11,061 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $5,527,116. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,042 shares of company stock valued at $56,857,777. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on BLK shares. JPMorgan Chase & Co. upped their price target on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods upped their target price on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Evercore ISI upped their target price on BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Argus upped their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, UBS Group cut their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus 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.