Burke & Herbert Bank & Trust Co. Has $667,000 Stake in BlackRock, Inc. (NYSE:BLK)

Burke & Herbert Bank & Trust Co. lowered its position in BlackRock, Inc. (NYSE:BLK) by 6.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 702 shares of the asset manager’s stock after selling 46 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in BlackRock were worth $667,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLK. Kingswood Wealth Advisors LLC boosted its holdings in BlackRock by 2.5% in the first quarter. Kingswood Wealth Advisors LLC now owns 696 shares of the asset manager’s stock worth $581,000 after purchasing an additional 17 shares in the last quarter. Brookstone Capital Management lifted its position in shares of BlackRock by 9.6% in the first quarter. Brookstone Capital Management now owns 583 shares of the asset manager’s stock worth $486,000 after buying an additional 51 shares during the last quarter. Sovereign Financial Group Inc. bought a new stake in shares of BlackRock during the 1st quarter worth about $210,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of BlackRock by 2.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 29,774 shares of the asset manager’s stock valued at $24,822,000 after acquiring an additional 689 shares during the last quarter. Finally, Thrive Wealth Management LLC raised its stake in shares of BlackRock by 15.0% in the 1st quarter. Thrive Wealth Management LLC now owns 361 shares of the asset manager’s stock valued at $301,000 after acquiring an additional 47 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

BlackRock stock traded up $0.02 during trading hours on Friday, hitting $984.02. 42,426 shares of the stock were exchanged, compared to its average volume of 571,883. The stock has a market capitalization of $146.23 billion, a P/E ratio of 25.01, a P/E/G ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $1,032.00. The business’s 50-day moving average is $924.23 and its two-hundred day moving average is $841.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

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

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Wiedman sold 12,000 shares of the company’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 completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,042 shares of company stock worth $56,857,777 over the last 90 days. 0.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. TD Cowen upped their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their price objective on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Morgan Stanley raised their target price on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped 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. Finally, Evercore ISI raised their price objective on shares of BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $995.31.

About BlackRock

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.