Legacy Capital Group California Inc. Has $340,000 Stake in BlackRock, Inc. (NYSE:BLK)

Legacy Capital Group California Inc. cut its holdings in BlackRock, Inc. (NYSE:BLK) by 4.5% during the third quarter, HoldingsChannel reports. The firm owned 358 shares of the asset manager’s stock after selling 17 shares during the period. Legacy Capital Group California Inc.’s holdings in BlackRock were worth $340,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in BLK. Axxcess Wealth Management LLC lifted its holdings in shares of BlackRock by 35.8% during the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after buying an additional 1,248 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in BlackRock by 3.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock valued at $322,810,000 after purchasing an additional 14,477 shares during the period. Oak Harvest Investment Services bought a new stake in BlackRock in the 1st quarter valued at $6,735,000. Cetera Investment Advisers increased its holdings in shares of BlackRock by 219.5% during the 1st quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock worth $36,737,000 after purchasing an additional 30,274 shares during the period. Finally, M&G Plc acquired a new position in shares of BlackRock during the first quarter valued at about $161,918,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insiders Place Their Bets

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. 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 66,042 shares of company stock valued at $56,857,777 in the last 90 days. 0.90% of the stock is currently owned by insiders.

BlackRock Stock Down 1.0 %

Shares of BLK opened at $974.07 on Friday. 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. BlackRock, Inc. has a one year low of $596.18 and a one year high of $1,032.00. The business’s 50 day simple moving average is $926.47 and its 200-day simple moving average is $842.59. 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 data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the previous year, the firm earned $10.91 earnings per share. The business’s revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts predict that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BLK shares. The Goldman Sachs Group lifted their target price on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. UBS Group lowered their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. StockNews.com began coverage on shares of BlackRock in a report on Sunday, October 20th. They set a “hold” rating for the company. Citigroup increased 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. Finally, Wells Fargo & Company raised their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.