Valley National Advisers Inc. Lowers Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Valley National Advisers Inc. trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 57.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,710 shares of the asset manager’s stock after selling 3,628 shares during the period. Valley National Advisers Inc.’s holdings in BlackRock were worth $2,572,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BLK. Redmont Wealth Advisors LLC bought a new stake in BlackRock in the 1st quarter worth approximately $27,000. Fairscale Capital LLC bought a new stake in shares of BlackRock during the 2nd quarter valued at $31,000. Chilton Capital Management LLC bought a new stake in shares of BlackRock during the 1st quarter valued at $38,000. MFA Wealth Advisors LLC lifted its stake in shares of BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new position in shares of BlackRock during the 2nd quarter valued at $53,000. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

BLK has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. TD Cowen upped their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods upped their price target on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Evercore ISI raised their target price on shares of BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Argus raised their target price on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $995.31.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at $5,832,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,042 shares of company stock valued at $56,857,777 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Down 1.0 %

BLK opened at $974.07 on Friday. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $1,032.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company has a fifty day moving average of $928.50 and a two-hundred day moving average of $844.05. The stock has a market capitalization of $144.75 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 1.94 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.91 earnings per share. On average, research analysts expect that BlackRock, Inc. will post 41.73 earnings per share for the current 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.