BlackRock, Inc. (NYSE:BLK) Shares Sold by Northeast Investment Management

Northeast Investment Management trimmed its position in BlackRock, Inc. (NYSE:BLK) by 0.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,634 shares of the asset manager’s stock after selling 62 shares during the period. Northeast Investment Management’s holdings in BlackRock were worth $16,744,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Norden Group LLC lifted its holdings in BlackRock by 38.5% in the first quarter. Norden Group LLC now owns 648 shares of the asset manager’s stock worth $540,000 after acquiring an additional 180 shares during the last quarter. Nordea Investment Management AB lifted its holdings in BlackRock by 5.2% in the first quarter. Nordea Investment Management AB now owns 10,742 shares of the asset manager’s stock worth $8,992,000 after acquiring an additional 529 shares during the last quarter. FORA Capital LLC bought a new position in BlackRock in the first quarter worth about $255,000. Proficio Capital Partners LLC lifted its holdings in BlackRock by 3.7% in the first quarter. Proficio Capital Partners LLC now owns 562 shares of the asset manager’s stock worth $468,000 after acquiring an additional 20 shares during the last quarter. Finally, Peoples Bank OH lifted its holdings in BlackRock by 12.9% in the first quarter. Peoples Bank OH now owns 316 shares of the asset manager’s stock worth $263,000 after acquiring an additional 36 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Trading Up 0.4 %

NYSE BLK opened at $985.08 on Monday. BlackRock, Inc. has a twelve month low of $623.77 and a twelve month 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 stock has a market cap of $145.92 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 1.76 and a beta of 1.30. The firm’s 50 day moving average price is $940.00 and its two-hundred day moving average price is $852.25.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the previous year, the company posted $10.91 EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. Equities analysts anticipate that BlackRock, Inc. will post 42.94 EPS for the current year.

Analysts Set New Price Targets

BLK has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Wells Fargo & Company lifted their price target on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. StockNews.com initiated coverage on BlackRock in a report on Monday, October 28th. They set a “hold” rating on the stock. The Goldman Sachs Group lifted their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. boosted their target price on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $995.31.

Insider Activity

In other news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 6,480 shares in the company, valued at $5,832,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 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 approximately $5,832,000. This trade 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 64,511 shares of company stock worth $55,568,552 in the last ninety days. Corporate insiders own 0.90% of the company’s stock.

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.