BlackRock, Inc. (NYSE:BLK) Shares Sold by ING Groep NV

ING Groep NV lowered its position in BlackRock, Inc. (NYSE:BLK) by 59.4% in the third quarter, HoldingsChannel reports. The firm owned 7,018 shares of the asset manager’s stock after selling 10,259 shares during the period. ING Groep NV’s holdings in BlackRock were worth $6,664,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Axxcess Wealth Management LLC raised its position in shares of BlackRock by 35.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after buying an additional 1,248 shares during the period. Cetera Investment Advisers boosted its stake in BlackRock by 219.5% during the first quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock worth $36,737,000 after buying an additional 30,274 shares during the period. GAMMA Investing LLC increased its position in shares of BlackRock by 62.8% during the second quarter. GAMMA Investing LLC now owns 2,291 shares of the asset manager’s stock valued at $1,804,000 after acquiring an additional 884 shares during the last quarter. Aptus Capital Advisors LLC lifted its holdings in shares of BlackRock by 20.8% in the 3rd quarter. Aptus Capital Advisors LLC now owns 21,333 shares of the asset manager’s stock worth $20,256,000 after acquiring an additional 3,675 shares during the last quarter. Finally, CreativeOne Wealth LLC purchased a new position in shares of BlackRock during the 1st quarter worth approximately $759,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Down 0.0 %

Shares of NYSE:BLK opened at $1,046.87 on Friday. BlackRock, Inc. has a 1-year low of $708.75 and a 1-year high of $1,068.34. 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 stock has a market cap of $155.07 billion, a P/E ratio of 25.84, a P/E/G ratio of 1.84 and a beta of 1.30. The firm has a fifty day moving average price of $965.44 and a 200 day moving average price of $867.99.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the previous year, the company posted $10.91 earnings per share. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. Sell-side analysts predict that BlackRock, Inc. will post 43.17 EPS for the current year.

Insider Buying and Selling

In other BlackRock 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 in the company, valued at approximately $5,832,000. This represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on BLK shares. Evercore ISI upped their price target on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays raised their target price on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their price target 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. The Goldman Sachs Group raised their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, TD Cowen upped their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,019.62.

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.