BlackRock, Inc. (NYSE:BLK) Shares Sold by Forte Capital LLC ADV

Forte Capital LLC ADV lowered its stake in BlackRock, Inc. (NYSE:BLK) by 1.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 10,762 shares of the asset manager’s stock after selling 209 shares during the quarter. BlackRock comprises about 1.2% of Forte Capital LLC ADV’s holdings, making the stock its 24th largest position. Forte Capital LLC ADV’s holdings in BlackRock were worth $10,219,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BLK. Pathway Financial Advisers LLC grew its stake in shares of BlackRock by 89,389.4% in the third 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 in the last quarter. International Assets Investment Management LLC grew its stake in BlackRock by 104,468.9% during 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 grew its stake in BlackRock by 11.1% during 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. grew its stake in BlackRock by 2.3% during 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 acquired a new stake in BlackRock during the 1st quarter valued at approximately $161,918,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Up 1.5 %

Shares of NYSE BLK opened at $1,029.82 on Thursday. The stock’s 50 day simple moving average is $947.54 and its 200 day simple moving average is $857.04. 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 company has a market cap of $152.55 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 1.77 and a beta of 1.30. BlackRock, Inc. has a 12-month low of $646.91 and a 12-month 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, beating the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.91 EPS. Equities research analysts expect that BlackRock, Inc. will post 42.94 EPS for the current year.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 11,061 shares of BlackRock stock in a transaction on Monday, August 12th. The stock was sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,527,116. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 35,061 shares of company stock valued at $30,734,840 in the last quarter. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BLK shares. Argus raised their price objective on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note 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 report on Wednesday, July 10th. Evercore ISI increased their target price on BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company increased their target price on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, Citigroup increased their target price on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $995.31.

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.