Southern Capital Advisors LLC Reduces Holdings in BlackRock, Inc. (NYSE:BLK)

Southern Capital Advisors LLC reduced its position in BlackRock, Inc. (NYSE:BLK) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,443 shares of the asset manager’s stock after selling 40 shares during the period. BlackRock makes up about 0.8% of Southern Capital Advisors LLC’s holdings, making the stock its 27th biggest holding. Southern Capital Advisors LLC’s holdings in BlackRock were worth $1,370,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in BlackRock by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after purchasing an additional 292,017 shares during the last quarter. Capital Research Global Investors increased its stake in shares of BlackRock by 11.1% in the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after buying an additional 435,358 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in BlackRock by 2.9% in the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after acquiring an additional 46,728 shares in the last quarter. Legal & General Group Plc boosted its stake in BlackRock by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after acquiring an additional 22,311 shares during the last quarter. Finally, Pathway Financial Advisers LLC grew its holdings in 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 worth $993,312,000 after acquiring an additional 1,044,962 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Up 0.7 %

BLK opened at $980.91 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. BlackRock, Inc. has a 12 month low of $600.26 and a 12 month high of $1,032.00. The stock’s 50 day moving average price is $928.50 and its 200 day moving average price is $844.48. The stock has a market cap of $145.76 billion, a P/E ratio of 24.94, a P/E/G ratio of 1.94 and a beta of 1.30.

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

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was 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 directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was 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 $5,832,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,042 shares of company stock worth $56,857,777 over the last ninety days. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BLK. Keefe, Bruyette & Woods increased their price target on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Evercore ISI lifted their target price on BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Argus lifted their price objective on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley increased their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company lifted their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $995.31.

About BlackRock

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.