Proficio Capital Partners LLC Decreases Holdings in BlackRock, Inc. (NYSE:BLK)

Proficio Capital Partners LLC decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 20.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 457 shares of the asset manager’s stock after selling 115 shares during the quarter. Proficio Capital Partners LLC’s holdings in BlackRock were worth $434,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 292,017 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of BlackRock by 11.1% during the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after acquiring an additional 435,358 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of BlackRock by 2.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after acquiring an additional 46,728 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of BlackRock by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after acquiring an additional 22,311 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted 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 worth $993,312,000 after acquiring an additional 1,044,962 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of recent research reports. Argus upped their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. The Goldman Sachs Group upped their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods upped their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, Wells Fargo & Company upped their target price on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,004.54.

BlackRock Trading Up 0.3 %

Shares of BLK opened at $1,039.28 on Monday. The company has a market capitalization of $153.95 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.85 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The stock has a fifty day moving average of $953.10 and a two-hundred day moving average of $860.88. BlackRock, Inc. has a fifty-two week low of $650.63 and a fifty-two week high of $1,057.51.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 15.52% and a net margin of 31.37%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted $10.91 EPS. As a group, analysts forecast that BlackRock, Inc. will post 42.94 EPS for the current year.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,832,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.90% of the company’s stock.

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.