Victory Capital Management Inc. Cuts Stake in BlackRock, Inc. (NYSE:BLK)

Victory Capital Management Inc. decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 1.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 51,950 shares of the asset manager’s stock after selling 592 shares during the quarter. Victory Capital Management Inc.’s holdings in BlackRock were worth $49,327,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Marino Stram & Associates LLC grew its position in BlackRock by 0.3% during the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after acquiring an additional 10 shares during the last quarter. Onyx Bridge Wealth Group LLC lifted its stake in shares of BlackRock by 3.5% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after purchasing an additional 11 shares during the period. Ballentine Partners LLC lifted its stake in shares of BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after purchasing an additional 11 shares during the period. Harbor Capital Advisors Inc. raised its stake in BlackRock by 0.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after buying an additional 11 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in BlackRock by 0.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock worth $1,447,000 after buying an additional 11 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on BLK shares. Wells Fargo & Company increased their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. StockNews.com started coverage on BlackRock in a research report on Wednesday. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Morgan Stanley increased their price target on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Evercore ISI increased their price target on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,019.62.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock 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 owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is owned by corporate insiders.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,046.87 on Friday. The stock has a market cap of $155.07 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.84 and a beta of 1.30. BlackRock, Inc. has a fifty-two week low of $708.75 and a fifty-two week high of $1,068.34. 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 $965.44 and a 200-day moving average of $867.99.

BlackRock (NYSE:BLK) last announced its quarterly 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 company 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 firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $10.91 earnings per share. Equities research analysts anticipate that BlackRock, Inc. will post 43.17 earnings per share for the current year.

BlackRock 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.