Rogco LP Reduces Position in BlackRock, Inc. (NYSE:BLK)

Rogco LP trimmed its holdings in BlackRock, Inc. (NYSE:BLK) by 3.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,369 shares of the asset manager’s stock after selling 97 shares during the quarter. BlackRock makes up about 0.9% of Rogco LP’s portfolio, making the stock its 21st biggest position. Rogco LP’s holdings in BlackRock were worth $2,249,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Grimes & Company Inc. lifted its holdings in BlackRock by 12.0% during the 3rd quarter. Grimes & Company Inc. now owns 961 shares of the asset manager’s stock valued at $913,000 after buying an additional 103 shares in the last quarter. Asset Planning Services Inc. LA ADV increased its position in shares of BlackRock by 0.4% during the third quarter. Asset Planning Services Inc. LA ADV now owns 8,003 shares of the asset manager’s stock worth $7,599,000 after acquiring an additional 30 shares during the period. CENTRAL TRUST Co raised its stake in shares of BlackRock by 1.0% during the third quarter. CENTRAL TRUST Co now owns 3,817 shares of the asset manager’s stock valued at $3,624,000 after acquiring an additional 36 shares in the last quarter. Patrick M Sweeney & Associates Inc. purchased a new stake in shares of BlackRock in the third quarter valued at approximately $276,000. Finally, International Assets Investment Management LLC grew its stake in BlackRock by 104,468.9% in the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after purchasing an additional 791,874 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction on 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 directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,042 shares of company stock valued at $56,857,777 in the last ninety days. Insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

BLK traded down $1.48 on Thursday, reaching $986.68. 114,884 shares of the stock were exchanged, compared to its average volume of 573,294. The company’s 50-day moving average price is $924.23 and its 200 day moving average price is $841.60. 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 firm has a market capitalization of $146.62 billion, a PE ratio of 25.11, a PEG ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $1,032.00.

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. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the previous year, the company posted $10.91 earnings per share. The company’s revenue was up 14.9% compared to the same quarter last year. As a group, sell-side analysts forecast that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on BLK. TD Cowen upped their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Evercore ISI raised their target price on shares of BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. StockNews.com assumed coverage on shares of BlackRock in a research note on Sunday. They set a “hold” rating on the stock. Argus boosted their price objective on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods increased their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $995.31.

BlackRock Company 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.