First Long Island Investors LLC Cuts Stock Position in BlackRock, Inc. (NYSE:BLK)

First Long Island Investors LLC decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,377 shares of the asset manager’s stock after selling 134 shares during the period. BlackRock comprises approximately 2.0% of First Long Island Investors LLC’s investment portfolio, making the stock its 19th largest holding. First Long Island Investors LLC’s holdings in BlackRock were worth $25,995,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BLK. Fairscale Capital LLC purchased a new position in BlackRock during the second quarter valued at $31,000. Reston Wealth Management LLC purchased a new position in BlackRock in the 3rd quarter valued at about $37,000. MFA Wealth Advisors LLC boosted its holdings in BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after buying an additional 20 shares during the last quarter. Addison Advisors LLC increased its stake in BlackRock by 81.5% during the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after buying an additional 22 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new position in shares of BlackRock in the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. The Goldman Sachs Group boosted their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company upped their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Morgan Stanley upped their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Trading Down 0.3 %

BlackRock stock traded down $3.08 during mid-day trading on Friday, hitting $1,044.00. The company’s stock had a trading volume of 147,066 shares, compared to its average volume of 572,743. BlackRock, Inc. has a 1 year low of $708.75 and a 1 year high of $1,068.34. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $154.65 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 1.84 and a beta of 1.30. The stock’s fifty day moving average is $965.44 and its two-hundred day moving average is $867.99.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.03 billion. During the same period last year, the company earned $10.91 EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. On average, analysts anticipate that BlackRock, Inc. will post 43.17 EPS for the current year.

Insider Activity

In related 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 in the company, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

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.