Umpqua Bank Cuts Stake in BlackRock, Inc. (NYSE:BLK)

Umpqua Bank lowered its position in BlackRock, Inc. (NYSE:BLK) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,467 shares of the asset manager’s stock after selling 13 shares during the quarter. BlackRock accounts for 1.2% of Umpqua Bank’s investment portfolio, making the stock its 18th biggest position. Umpqua Bank’s holdings in BlackRock were worth $3,292,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BLK. Marino Stram & Associates LLC lifted its holdings in BlackRock by 0.3% in the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after purchasing an additional 10 shares during the last quarter. Onyx Bridge Wealth Group LLC raised its position in shares of BlackRock by 3.5% during the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after buying an additional 11 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of BlackRock by 0.3% in the third quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after buying an additional 11 shares during the period. Harbor Capital Advisors Inc. raised its holdings in BlackRock by 0.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock valued at $2,829,000 after acquiring an additional 11 shares in the last quarter. Finally, XML Financial LLC grew its holdings in shares of BlackRock by 2.6% during the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on BLK shares. Argus lifted their price target on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. lifted their price objective on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. TD Cowen raised their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. UBS Group dropped their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, StockNews.com initiated coverage on shares of BlackRock in a report on Tuesday. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $995.31.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock 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 sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 35,061 shares of company stock worth $30,734,840. Corporate insiders own 0.90% of the company’s stock.

BlackRock Trading Up 1.1 %

BlackRock stock traded up $11.29 during midday trading on Wednesday, hitting $1,025.64. 167,347 shares of the stock were exchanged, compared to its average volume of 568,363. The company has a fifty day simple moving average of $944.72 and a two-hundred day simple moving average of $855.82. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $151.93 billion, a PE ratio of 25.02, a P/E/G ratio of 1.77 and a beta of 1.30. BlackRock, Inc. has a 52 week low of $646.91 and a 52 week high of $1,057.51.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the business earned $10.91 EPS. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities research analysts anticipate that BlackRock, Inc. will post 42.94 EPS for the current fiscal year.

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.