BlackRock, Inc. (NYSE:BLK) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd reduced its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 4.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,730 shares of the asset manager’s stock after selling 557 shares during the period. Gulf International Bank UK Ltd’s holdings in BlackRock were worth $11,137,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Alterna Wealth Management Inc. acquired a new stake in BlackRock in the 3rd quarter valued at $241,000. Moloney Securities Asset Management LLC grew its stake in shares of BlackRock by 6.4% in the third quarter. Moloney Securities Asset Management LLC now owns 2,069 shares of the asset manager’s stock valued at $1,965,000 after buying an additional 124 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of BlackRock during the 3rd quarter valued at about $96,000. Hazlett Burt & Watson Inc. lifted its position in BlackRock by 6.3% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 523 shares of the asset manager’s stock worth $500,000 after acquiring an additional 31 shares in the last quarter. Finally, PDS Planning Inc grew its position in BlackRock by 3.5% in the third quarter. PDS Planning Inc now owns 772 shares of the asset manager’s stock valued at $733,000 after acquiring an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 11,061 shares of the firm’s 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 transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,527,116. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.

BlackRock Price Performance

Shares of BLK opened at $991.50 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The company has a market cap of $146.87 billion, a P/E ratio of 24.47, a PEG 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 $1,032.00. The stock has a fifty day moving average price of $942.16 and a 200 day moving average price of $853.97.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter last year, the company earned $10.91 EPS. On average, research analysts forecast that BlackRock, Inc. will post 42.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BLK. Keefe, Bruyette & Woods upped their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. raised 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. UBS Group cut their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Citigroup raised their price objective on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft upped 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. Three 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $995.31.

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.