BlackRock, Inc. (NYSE:BLK) Shares Sold by Heritage Investors Management Corp

by · The Cerbat Gem

Heritage Investors Management Corp trimmed its position in BlackRock, Inc. (NYSE:BLK – Free Report) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,925 shares of the asset manager’s stock after selling 903 shares during the period. BlackRock comprises about 1.2% of Heritage Investors Management Corp’s portfolio, making the stock its 20th largest holding. Heritage Investors Management Corp’s holdings in BlackRock were worth $36,010,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BLK. Pathway Financial Advisers LLC boosted its holdings in shares of BlackRock by 89,389.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after purchasing an additional 1,044,962 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of BlackRock by 104,468.9% during the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after purchasing an additional 791,874 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of BlackRock by 11.1% during the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after purchasing an additional 435,358 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of BlackRock by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after purchasing an additional 292,017 shares during the last quarter. Finally, M&G Plc purchased a new stake in shares of BlackRock during the 1st quarter valued at approximately $161,918,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Up 1.8 %

Shares of BlackRock stock traded up $17.99 during trading hours on Tuesday, reaching $1,009.49. 33,683 shares of the company were exchanged, compared to its average volume of 568,897. BlackRock, Inc. has a 1 year low of $646.91 and a 1 year high of $1,032.00. The stock’s fifty day moving average is $942.16 and its 200 day moving average is $853.97. 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 firm has a market cap of $149.54 billion, a PE ratio of 24.47, a PEG ratio of 1.77 and a beta of 1.30.

BlackRock (NYSE:BLK – Get Free Report) last posted its quarterly earnings data 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 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 prior year, the company earned $10.91 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. As a group, equities research analysts forecast that BlackRock, Inc. will post 42.94 earnings per share for the current year.

Analysts Set New Price Targets

BLK has been the topic of several analyst reports. Argus lifted their price target on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Morgan Stanley lifted their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Evercore ISI lifted their price target on shares of BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, TD Cowen lifted their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $995.31.

Read Our Latest Analysis on BLK

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $875.03, for a total transaction of $10,500,360.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,670,194.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 35,061 shares of company stock valued at $30,734,840. 0.90% of the stock is currently owned by company insiders.

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.

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