BLB&B Advisors LLC Sells 120 Shares of BlackRock $BLK

by · The Markets Daily

BLB&B Advisors LLC decreased its position in BlackRock (NYSE:BLK – Free Report) by 11.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 922 shares of the asset manager’s stock after selling 120 shares during the quarter. BLB&B Advisors LLC’s holdings in BlackRock were worth $967,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Securian Asset Management Inc. bought a new stake in BlackRock during the first quarter worth approximately $7,331,000. Prudent Man Advisors LLC bought a new stake in BlackRock during the first quarter worth approximately $2,018,000. Allianz SE boosted its position in BlackRock by 2.6% during the first quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock worth $10,435,000 after purchasing an additional 277 shares during the period. Arizona State Retirement System bought a new stake in BlackRock during the first quarter worth approximately $40,868,000. Finally, Weil Company Inc. boosted its position in BlackRock by 194.6% during the first quarter. Weil Company Inc. now owns 2,074 shares of the asset manager’s stock worth $1,963,000 after purchasing an additional 1,370 shares during the period. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BLK shares. Evercore ISI upped their target price on BlackRock from $1,200.00 to $1,230.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. increased their price objective on BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Telsey Advisory Group reissued an “outperform” rating on shares of BlackRock in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods increased their price objective on BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Finally, UBS Group reissued a “hold” rating on shares of BlackRock in a research report on Tuesday, October 21st. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,299.29.

Get Our Latest Research Report on BlackRock

Insider Buying and Selling

In related news, Director Rachel Lord sold 12,000 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the completion of the transaction, the director directly owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is currently owned by company insiders.

BlackRock Stock Down 0.1%

Shares of BLK stock opened at $1,096.92 on Friday. The stock has a market cap of $169.86 billion, a P/E ratio of 28.21, a price-to-earnings-growth ratio of 1.90 and a beta of 1.45. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The stock has a fifty day moving average price of $1,138.25 and a 200 day moving average price of $1,059.80. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04.

BlackRock (NYSE:BLK – Get Free Report) last issued its earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing the consensus estimate of $11.78 by ($0.23). The firm had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The firm’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same period last year, the business earned $11.46 earnings per share. Analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock (NYSE:BLK – Free Report).