BlackRock $BLK Shares Sold by PAX Financial Group LLC

PAX Financial Group LLC lowered its holdings in BlackRock (NYSE:BLK) by 22.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 299 shares of the asset manager’s stock after selling 86 shares during the period. PAX Financial Group LLC’s holdings in BlackRock were worth $314,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Midwest Professional Planners LTD. raised its position in shares of BlackRock by 2.6% in the 2nd quarter. Midwest Professional Planners LTD. now owns 2,532 shares of the asset manager’s stock valued at $2,656,000 after purchasing an additional 65 shares in the last quarter. Symphony Financial Ltd. Co. bought a new stake in shares of BlackRock in the second quarter worth $17,978,000. Western Wealth Management LLC raised its holdings in BlackRock by 12.8% in the second quarter. Western Wealth Management LLC now owns 2,585 shares of the asset manager’s stock valued at $2,713,000 after acquiring an additional 294 shares in the last quarter. Summitry LLC boosted its stake in BlackRock by 2.7% during the 2nd quarter. Summitry LLC now owns 541 shares of the asset manager’s stock valued at $567,000 after acquiring an additional 14 shares during the last quarter. Finally, MTM Investment Management LLC grew its holdings in BlackRock by 2.4% during the 2nd quarter. MTM Investment Management LLC now owns 805 shares of the asset manager’s stock worth $845,000 after acquiring an additional 19 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackRock

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BLK shares. TD Cowen upped their target price on shares of BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. BMO Capital Markets upped their price objective on BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. UBS Group reiterated a “hold” rating on shares of BlackRock in a research report on Tuesday, October 21st. Citigroup boosted their price target on BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a report on Monday, September 29th. Finally, Evercore ISI raised their price objective on BlackRock from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,302.53.

BlackRock Trading Down 3.2%

Shares of NYSE BLK opened at $1,024.20 on Tuesday. The company has a market cap of $158.91 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,219.94. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The stock’s 50 day simple moving average is $1,125.77 and its 200 day simple moving average is $1,076.97.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The company had revenue of $6.51 billion for 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%.BlackRock’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $11.46 earnings per share. Equities research analysts expect that BlackRock will post 47.41 EPS for the current year.

About BlackRock

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.