Hills Bank & Trust Co Cuts Stake in BlackRock, Inc. (NYSE:BLK)

by · The Cerbat Gem

Hills Bank & Trust Co lowered its stake in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,869 shares of the asset manager’s stock after selling 38 shares during the period. Hills Bank & Trust Co’s holdings in BlackRock were worth $1,775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BLK. Pathway Financial Advisers LLC increased its stake in shares of BlackRock by 89,389.4% during the third 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 in the last quarter. International Assets Investment Management LLC boosted its position in BlackRock by 104,468.9% during the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after acquiring an additional 791,874 shares during the last quarter. Capital Research Global Investors boosted its position in BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after acquiring an additional 435,358 shares during the last quarter. Vanguard Group Inc. boosted its position in BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after acquiring an additional 292,017 shares during the last quarter. Finally, M&G Plc acquired a new position in BlackRock during the first quarter worth about $161,918,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $875.03, for a total transaction of $10,500,360.00. Following the sale, the director now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 64,511 shares of company stock valued at $55,568,552 in the last ninety days. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $980.60 on Friday. The firm’s 50 day moving average price is $937.94 and its 200-day moving average price is $849.30. 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, Inc. has a one year low of $604.41 and a one year high of $1,032.00. The firm has a market cap of $145.26 billion, a P/E ratio of 24.20, a P/E/G ratio of 1.76 and a beta of 1.30.

BlackRock (NYSE:BLK – Get Free Report) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS 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 analyst estimates of $5.03 billion. During the same period in the prior year, the business posted $10.91 EPS. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, equities research analysts predict that BlackRock, Inc. will post 42.94 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BLK. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Citigroup boosted their price target on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Argus boosted their target price on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods boosted their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Finally, Evercore ISI boosted their target price on shares of BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $995.31.

Check Out Our Latest Analysis on BLK

BlackRock Company 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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