Brighton Jones LLC Lowers Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Brighton Jones LLC cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 9.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,279 shares of the asset manager’s stock after selling 137 shares during the period. Brighton Jones LLC’s holdings in BlackRock were worth $1,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Axxcess Wealth Management LLC boosted its holdings in shares of BlackRock by 35.8% in the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after acquiring an additional 1,248 shares in 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 in the last quarter. Oak Harvest Investment Services acquired a new position in BlackRock during the 1st quarter worth approximately $6,735,000. Cetera Investment Advisers raised its stake 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 buying an additional 30,274 shares in the last quarter. Finally, M&G Plc acquired a new stake in shares of BlackRock in the 1st quarter valued at approximately $161,918,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction on 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 $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction on 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 owns 5,732 shares of the company’s stock, valued at $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. In the last three months, insiders sold 66,042 shares of company stock worth $56,857,777. Insiders own 0.90% of the company’s stock.

BlackRock Stock Down 0.4 %

BLK opened at $984.32 on Friday. The firm has a market cap of $146.27 billion, a P/E ratio of 25.01, a PEG ratio of 1.94 and a beta of 1.30. The business’s fifty day simple moving average is $924.23 and its 200 day simple moving average is $841.60. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $1,032.00. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.91 earnings per share. As a group, equities research analysts anticipate that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BLK shares. Wells Fargo & Company upped their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Evercore ISI increased their price target 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. StockNews.com assumed coverage on shares of BlackRock in a report on Sunday, October 20th. They set a “hold” rating on the stock. JPMorgan Chase & Co. upped their target price on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Barclays boosted their price target on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average price target of $995.31.

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.