ABLE Financial Group LLC Has $804,000 Stock Holdings in BlackRock, Inc. (NYSE:BLK)

ABLE Financial Group LLC reduced its holdings in BlackRock, Inc. (NYSE:BLK) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 847 shares of the asset manager’s stock after selling 21 shares during the quarter. ABLE Financial Group LLC’s holdings in BlackRock were worth $804,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Fairscale Capital LLC bought a new position in BlackRock during the 2nd quarter worth $31,000. Reston Wealth Management LLC bought a new position in shares of BlackRock during the third quarter worth about $37,000. MFA Wealth Advisors LLC lifted its stake in shares of BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after acquiring an additional 20 shares during the period. Chilton Capital Management LLC bought a new stake in BlackRock in the first quarter valued at approximately $38,000. Finally, Capital Performance Advisors LLP acquired a new stake in BlackRock during the 3rd quarter valued at approximately $54,000. Institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 11,061 shares of BlackRock stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 35,061 shares of company stock valued at $30,734,840 over the last ninety days. 0.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Evercore ISI increased their price target on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday. Argus boosted 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. Keefe, Bruyette & Woods raised their target price on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. boosted their price target on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,004.54.

BlackRock Stock Up 1.2 %

NYSE BLK traded up $12.09 during mid-day trading on Friday, hitting $1,048.15. The company’s stock had a trading volume of 84,042 shares, compared to its average volume of 571,497. 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’s 50 day simple moving average is $947.54 and its 200 day simple moving average is $857.04. BlackRock, Inc. has a twelve month low of $650.63 and a twelve month high of $1,057.51. The firm has a market capitalization of $155.26 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 1.78 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the previous year, the firm posted $10.91 earnings per share. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Analysts anticipate that BlackRock, Inc. will post 42.94 earnings per share for the current year.

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.