US Bancorp DE Sells 569 Shares of BlackRock, Inc. (NYSE:BLK)

US Bancorp DE cut its stake in BlackRock, Inc. (NYSE:BLK) by 0.3% in the third quarter, Holdings Channel.com reports. The firm owned 219,308 shares of the asset manager’s stock after selling 569 shares during the period. US Bancorp DE’s holdings in BlackRock were worth $208,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Nikulski Financial Inc. boosted its holdings in BlackRock by 6.0% in the 3rd quarter. Nikulski Financial Inc. now owns 282 shares of the asset manager’s stock valued at $268,000 after purchasing an additional 16 shares during the period. Oak Harvest Investment Services increased its position in shares of BlackRock by 8.8% during the 3rd quarter. Oak Harvest Investment Services now owns 11,437 shares of the asset manager’s stock worth $10,859,000 after purchasing an additional 925 shares in the last quarter. Pinnacle Associates Ltd. increased its position in shares of BlackRock by 1.9% during the 3rd quarter. Pinnacle Associates Ltd. now owns 43,009 shares of the asset manager’s stock worth $40,837,000 after purchasing an additional 813 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in shares of BlackRock by 22.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,089 shares of the asset manager’s stock worth $5,782,000 after purchasing an additional 1,135 shares in the last quarter. Finally, Echo45 Advisors LLC acquired a new stake in BlackRock in the 3rd quarter valued at about $1,080,000. 80.69% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Pamela Daley sold 1,531 shares of the company’s 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 completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 value of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. 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 the SEC website. Also, Director Mark Wiedman sold 11,061 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,527,116. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,042 shares of company stock valued at $56,857,777. 0.90% of the stock is owned by company insiders.

BlackRock Stock Down 0.8 %

BLK traded down $8.26 during trading on Thursday, reaching $971.61. 93,068 shares of the stock were exchanged, compared to its average volume of 568,204. The stock has a market cap of $143.92 billion, a P/E ratio of 24.20, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a twelve month low of $604.41 and a twelve month high of $1,032.00. The stock’s 50 day moving average price is $935.63 and its two-hundred day moving average price is $848.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLK) last issued its earnings results 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. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the previous year, the company earned $10.91 earnings per share. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Equities analysts expect that BlackRock, Inc. will post 41.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BLK. Keefe, Bruyette & Woods raised their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Wells Fargo & Company lifted their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lifted their price objective 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. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Finally, StockNews.com initiated coverage on shares of BlackRock in a research note on Monday. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $995.31.

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.