Malaga Cove Capital LLC Lowers Position in BlackRock, Inc. (NYSE:BLK)

Malaga Cove Capital LLC reduced its stake in BlackRock, Inc. (NYSE:BLK) by 1.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 923 shares of the asset manager’s stock after selling 17 shares during the period. Malaga Cove Capital LLC’s holdings in BlackRock were worth $876,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Fairscale Capital LLC acquired a new position in shares of BlackRock in the 2nd quarter worth approximately $31,000. Reston Wealth Management LLC acquired a new stake in shares of BlackRock in the third quarter valued at $37,000. Chilton Capital Management LLC acquired a new stake in shares of BlackRock in the first quarter valued at $38,000. MFA Wealth Advisors LLC lifted its stake in BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after acquiring an additional 20 shares in the last quarter. Finally, Olistico Wealth LLC acquired a new position in BlackRock during the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 35,061 shares of company stock worth $30,734,840 in the last quarter. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BLK has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Barclays increased their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Keefe, Bruyette & Woods boosted their price target on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. StockNews.com initiated coverage on BlackRock in a report on Tuesday. They issued a “hold” rating for the company. Finally, 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. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and an average price target of $995.31.

BlackRock Stock Up 1.5 %

Shares of NYSE:BLK opened at $1,029.82 on Thursday. 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 firm has a 50 day simple moving average of $947.54 and a 200-day simple moving average of $857.04. The company has a market capitalization of $152.55 billion, a PE ratio of 25.42, a P/E/G ratio of 1.77 and a beta of 1.30. BlackRock, Inc. has a twelve month low of $646.91 and a twelve month high of $1,057.51.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the firm posted $10.91 earnings per share. BlackRock’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities analysts predict that BlackRock, Inc. will post 42.94 EPS for the current fiscal 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.