BKM Wealth Management LLC Reduces Stake in BlackRock, Inc. (NYSE:BLK)

BKM Wealth Management LLC lessened its position in shares of BlackRock, Inc. (NYSE:BLK) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,524 shares of the asset manager’s stock after selling 87 shares during the quarter. BlackRock accounts for 1.4% of BKM Wealth Management LLC’s portfolio, making the stock its 16th biggest holding. BKM Wealth Management LLC’s holdings in BlackRock were worth $3,346,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BLK. Redmont Wealth Advisors LLC bought a new stake in BlackRock during the 1st quarter worth approximately $27,000. Fairscale Capital LLC bought a new position in BlackRock in the 2nd quarter worth $31,000. MFA Wealth Advisors LLC raised its holdings in shares of BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after acquiring an additional 20 shares in the last quarter. Chilton Capital Management LLC bought a new position in shares of BlackRock during the 1st quarter valued at approximately $38,000. Finally, City Holding Co. bought a new stake in BlackRock in the third quarter worth $55,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

BLK stock opened at $974.07 on Friday. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $1,032.00. The business has a 50-day moving average price of $926.47 and a 200 day moving average price of $842.59. The company has a market capitalization of $144.75 billion, a P/E ratio of 24.75, a PEG ratio of 1.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the previous year, the business posted $10.91 EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, equities research analysts forecast that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities analysts have commented on BLK shares. StockNews.com initiated coverage on shares of BlackRock in a research report on Sunday, October 20th. They set a “hold” rating for the company. Keefe, Bruyette & Woods lifted their price target on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. TD Cowen raised their price objective 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. Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Barclays boosted their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $995.31.

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.