SpiderRock Advisors LLC Trims Stock Position in BlackRock, Inc. (NYSE:BLK)

SpiderRock Advisors LLC lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 2.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,054 shares of the asset manager’s stock after selling 47 shares during the period. SpiderRock Advisors LLC’s holdings in BlackRock were worth $1,951,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BLK. Pathway Financial Advisers LLC raised its stake in shares of BlackRock by 89,389.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after buying an additional 1,044,962 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of BlackRock by 104,468.9% in the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock valued at $7,526,120,000 after purchasing an additional 791,874 shares in the last quarter. Capital Research Global Investors increased its stake in shares of BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after purchasing an additional 292,017 shares in the last quarter. Finally, M&G Plc purchased a new position in shares of BlackRock in the 1st quarter valued at about $161,918,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $875.03, for a total value of $10,500,360.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,670,194.40. This represents 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. Over the last three months, insiders have sold 35,061 shares of company stock worth $30,734,840. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

BLK has been the subject of several recent analyst reports. Barclays lifted their price target on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods boosted their price objective on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Morgan Stanley boosted their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, TD Cowen boosted their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,004.54.

BlackRock Trading Up 0.3 %

Shares of BlackRock stock opened at $1,039.28 on Friday. The stock has a market cap of $153.95 billion, a P/E ratio of 25.65, a P/E/G ratio of 1.85 and a beta of 1.30. The stock’s 50 day simple moving average is $953.10 and its 200-day simple moving average is $860.23. BlackRock, Inc. has a 1-year low of $650.63 and a 1-year high of $1,057.51. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the prior year, the firm posted $10.91 earnings per share. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. Analysts predict that BlackRock, Inc. will post 42.94 EPS for the current fiscal year.

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.