Catalyst Financial Partners LLC Reduces Stock Position in BlackRock, Inc. (NYSE:BLK)

Catalyst Financial Partners LLC trimmed its position in BlackRock, Inc. (NYSE:BLK) by 4.4% during the third quarter, Holdings Channel.com reports. The firm owned 851 shares of the asset manager’s stock after selling 39 shares during the period. Catalyst Financial Partners LLC’s holdings in BlackRock were worth $808,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted 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 purchasing an additional 292,017 shares during the period. Capital Research Global Investors increased its stake in BlackRock by 11.1% in the first 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 during the last quarter. Ameriprise Financial Inc. lifted its position in BlackRock by 2.9% during the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after buying an additional 46,728 shares during the period. Legal & General Group Plc boosted its stake in BlackRock by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after buying an additional 22,311 shares during the last quarter. Finally, Pathway Financial Advisers LLC grew its holdings in BlackRock by 89,389.4% in the 3rd 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 during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Pamela Daley sold 1,531 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 11,061 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $852.95, for a total value of $9,434,479.95. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,527,116. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,042 shares of company stock valued at $56,857,777 in the last three months. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Wells Fargo & Company boosted their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Morgan Stanley lifted their target price on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Argus upped their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $995.31.

BlackRock Stock Performance

BlackRock stock opened at $980.54 on Thursday. BlackRock, Inc. has a 12-month low of $604.41 and a 12-month high of $1,032.00. 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 capitalization of $145.25 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The firm’s fifty day moving average price is $935.63 and its 200 day moving average price is $848.38.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) 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 analyst estimates of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the previous year, the company earned $10.91 earnings per share. On average, research analysts forecast that BlackRock, Inc. will post 41.73 EPS for the current fiscal 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.