Private Capital Advisors Inc. Sells 34 Shares of BlackRock $BLK

Private Capital Advisors Inc. lowered its stake in shares of BlackRock (NYSE:BLK) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,703 shares of the asset manager’s stock after selling 34 shares during the quarter. BlackRock comprises 1.2% of Private Capital Advisors Inc.’s holdings, making the stock its 22nd largest holding. Private Capital Advisors Inc.’s holdings in BlackRock were worth $10,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Garde Capital Inc. boosted its position in BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 18 shares in the last quarter. Fairway Wealth LLC boosted its position in BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC boosted its position in BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 15 shares in the last quarter. Mid American Wealth Advisory Group Inc. bought a new stake in BlackRock during the second quarter valued at about $34,000. Finally, MorganRosel Wealth Management LLC bought a new stake in BlackRock during the first quarter valued at about $31,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Down 2.5%

BlackRock stock opened at $1,130.70 on Wednesday. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94. The company has a market capitalization of $175.09 billion, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 2.01 and a beta of 1.45. The stock has a 50-day moving average price of $1,140.89 and a 200 day moving average price of $1,046.85.

BlackRock (NYSE:BLK) last released its earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same period last year, the firm earned $11.46 EPS. The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. Sell-side analysts anticipate that BlackRock will post 47.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BLK. Bank of America raised their price target on BlackRock from $1,394.00 to $1,456.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Zacks Research downgraded BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Morgan Stanley raised their price target on BlackRock from $1,362.00 to $1,486.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Argus raised their price target on BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, Loop Capital set a $1,255.00 price target on BlackRock in a report on Tuesday. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,299.29.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 12,054 shares of BlackRock stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the completion of the transaction, the chief executive officer directly owned 251,697 shares in the company, valued at approximately $283,267,354.71. This trade represents a 4.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the transaction, the director owned 3,506 shares of the company’s stock, valued at approximately $3,936,571.86. This represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is owned by company insiders.

BlackRock Company 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.