Sei Investments Co. reduced its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,732 shares of the asset manager’s stock after selling 135 shares during the period. Sei Investments Co.’s holdings in BlackRock were worth $16,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Clear Harbor Asset Management LLC acquired a new position in BlackRock during the 3rd quarter valued at about $26,000. Hall Laurie J Trustee acquired a new position in BlackRock during the 3rd quarter valued at about $28,000. Prestige Wealth Management Group LLC increased its position in BlackRock by 125.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 63 shares of the asset manager’s stock valued at $35,000 after buying an additional 35 shares in the last quarter. Gradient Investments LLC increased its position in BlackRock by 40.4% during the 3rd quarter. Gradient Investments LLC now owns 73 shares of the asset manager’s stock valued at $41,000 after buying an additional 21 shares in the last quarter. Finally, Sun Life Financial INC increased its position in BlackRock by 33.8% during the 2nd quarter. Sun Life Financial INC now owns 91 shares of the asset manager’s stock valued at $50,000 after buying an additional 23 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors.
In related news, Director Mark Wiedman sold 3,850 shares of the company’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $626.47, for a total value of $2,411,909.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Christopher J. Meade sold 699 shares of the company’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $669.79, for a total value of $468,183.21. The disclosure for this sale can be found here. Corporate insiders own 1.42% of the company’s stock.
BLK has been the topic of several research analyst reports. Barclays boosted their price target on BlackRock from $625.00 to $700.00 in a research note on Wednesday, October 14th. Citigroup boosted their price target on BlackRock from $690.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. Morgan Stanley boosted their price target on BlackRock from $652.00 to $686.00 and gave the company an “overweight” rating in a research note on Friday, October 9th. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $685.00 to $795.00 and gave the company a “buy” rating in a research note on Wednesday, November 11th. Finally, BMO Capital Markets boosted their price target on BlackRock from $594.00 to $602.00 and gave the company a “market perform” rating in a research note on Thursday, October 15th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. BlackRock currently has a consensus rating of “Buy” and a consensus target price of $644.58.
Shares of BLK opened at $669.89 on Thursday. BlackRock, Inc. has a 52 week low of $323.98 and a 52 week high of $692.73. The company has a quick ratio of 1.02, a current ratio of 1.01 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $103.16 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 2.33 and a beta of 1.14. The stock’s 50-day moving average price is $626.79 and its 200-day moving average price is $571.00.
BlackRock (NYSE:BLK) last issued its earnings results on Sunday, October 18th. The asset manager reported $9.22 EPS for the quarter, topping analysts’ consensus estimates of $7.45 by $1.77. The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $3.89 billion. BlackRock had a return on equity of 14.91% and a net margin of 29.83%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.15 earnings per share. As a group, equities analysts anticipate that BlackRock, Inc. will post 32.1 EPS for the current fiscal year.
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.
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