BlackRock, Inc. (NYSE:BLK) Stake Lessened by Great Diamond Partners LLC

Great Diamond Partners LLC reduced its stake in shares of BlackRock, Inc. (NYSE:BLK) by 13.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,065 shares of the asset manager’s stock after selling 478 shares during the period. Great Diamond Partners LLC’s holdings in BlackRock were worth $2,910,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Avitas Wealth Management LLC raised its stake in BlackRock by 31.1% during the third quarter. Avitas Wealth Management LLC now owns 2,839 shares of the asset manager’s stock valued at $2,696,000 after buying an additional 674 shares in the last quarter. Childress Capital Advisors LLC bought a new stake in shares of BlackRock in the 3rd quarter valued at approximately $250,000. Highview Capital Management LLC DE raised its position in shares of BlackRock by 6.5% during the 3rd quarter. Highview Capital Management LLC DE now owns 1,716 shares of the asset manager’s stock valued at $1,629,000 after acquiring an additional 104 shares in the last quarter. Valmark Advisers Inc. lifted its stake in BlackRock by 5.2% during the third quarter. Valmark Advisers Inc. now owns 1,527 shares of the asset manager’s stock worth $1,450,000 after purchasing an additional 76 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its holdings in BlackRock by 1.1% in the third quarter. Farmers & Merchants Investments Inc. now owns 12,952 shares of the asset manager’s stock worth $12,298,000 after purchasing an additional 145 shares during the period. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction 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 $5,832,000. 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 90 days. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BLK shares. StockNews.com started coverage on shares of BlackRock in a research note on Monday. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft raised their price target on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Barclays increased their target price on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group boosted their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $995.31.

BlackRock Stock Down 0.3 %

Shares of NYSE:BLK opened at $983.40 on Wednesday. BlackRock, Inc. has a 52 week low of $600.26 and a 52 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 market cap of $146.13 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The firm has a 50 day simple moving average of $933.29 and a 200 day simple moving average of $847.45.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate 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 return on equity of 15.44% and a net margin of 32.36%. BlackRock’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the firm posted $10.91 earnings per share. As a group, 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.