BlackRock, Inc. (NYSE:BLK) Shares Sold by Arthur M. Cohen & Associates LLC

Arthur M. Cohen & Associates LLC cut its position in BlackRock, Inc. (NYSE:BLK) by 0.3% during the third quarter, HoldingsChannel.com reports. The fund owned 11,490 shares of the asset manager’s stock after selling 29 shares during the period. BlackRock makes up 1.9% of Arthur M. Cohen & Associates LLC’s portfolio, making the stock its 13th largest position. Arthur M. Cohen & Associates LLC’s holdings in BlackRock were worth $10,676,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after buying an additional 292,017 shares during the last quarter. Capital Research Global Investors boosted its stake in BlackRock by 11.1% during 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. boosted its stake in BlackRock by 2.9% during the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after buying an additional 46,728 shares during the last quarter. Legal & General Group Plc boosted its stake in BlackRock by 1.9% during the second quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after buying an additional 22,311 shares during the last quarter. Finally, Pathway Financial Advisers LLC boosted its stake in BlackRock by 89,389.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after buying an additional 1,044,962 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on BLK. Deutsche Bank Aktiengesellschaft lifted their target price on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. StockNews.com began coverage on BlackRock in a research report on Tuesday. They issued a “hold” rating on the stock. Citigroup lifted their target price on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. UBS Group reduced their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted their target price on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $995.31.

BlackRock Trading Up 0.7 %

NYSE:BLK opened at $991.50 on Tuesday. The stock has a 50-day simple moving average of $942.16 and a 200-day simple moving average of $853.97. The stock has a market cap of $146.87 billion, a P/E ratio of 24.47, a P/E/G ratio of 1.77 and a beta of 1.30. BlackRock, Inc. has a 1 year low of $646.91 and a 1 year high of $1,032.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLK) last released 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. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.91 EPS. As a group, analysts anticipate that BlackRock, Inc. will post 42.94 earnings per share for the current fiscal year.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 11,061 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $852.95, for a total value of $9,434,479.95. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,527,116. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 35,061 shares of company stock valued at $30,734,840 in the last three months. 0.90% of the stock is currently owned by company insiders.

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.