Linscomb Wealth Inc. Decreases Stake in BlackRock, Inc. (NYSE:BLK)

Linscomb Wealth Inc. lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 14,017 shares of the asset manager’s stock after selling 239 shares during the quarter. BlackRock comprises approximately 0.7% of Linscomb Wealth Inc.’s holdings, making the stock its 21st largest holding. Linscomb Wealth Inc.’s holdings in BlackRock were worth $13,309,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Archer Investment Corp lifted its position in BlackRock by 50.0% during the 3rd quarter. Archer Investment Corp now owns 63 shares of the asset manager’s stock worth $60,000 after acquiring an additional 21 shares in the last quarter. Empowered Funds LLC lifted its position in BlackRock by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 2,713 shares of the asset manager’s stock worth $2,576,000 after acquiring an additional 228 shares in the last quarter. Empirical Finance LLC lifted its position in BlackRock by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 4,973 shares of the asset manager’s stock worth $4,722,000 after acquiring an additional 91 shares in the last quarter. Signature Estate & Investment Advisors LLC lifted its position in BlackRock by 16.9% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 24,265 shares of the asset manager’s stock worth $23,040,000 after acquiring an additional 3,511 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in BlackRock by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 35,278 shares of the asset manager’s stock worth $33,497,000 after acquiring an additional 1,924 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction 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 transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on BLK. StockNews.com assumed coverage on BlackRock in a research report on Wednesday. They set a “hold” rating on the stock. JPMorgan Chase & Co. upped their target price on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Barclays upped their target price on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company upped their target price on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley upped their target price 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. According to MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Stock Performance

BLK traded down $4.83 during trading on Friday, reaching $1,042.25. 127,331 shares of the company were exchanged, compared to its average volume of 572,709. The stock has a market cap of $154.39 billion, a P/E ratio of 25.81, a PEG ratio of 1.84 and a beta of 1.30. The firm has a 50 day moving average of $965.44 and a 200 day moving average of $867.99. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 52 week low of $708.75 and a 52 week high of $1,068.34.

BlackRock (NYSE:BLK) last issued its quarterly earnings data 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 firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the business earned $10.91 EPS. On average, sell-side analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

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.