CVA Family Office LLC Lowers Stock Holdings in BlackRock $BLK

CVA Family Office LLC lowered its position in shares of BlackRock (NYSE:BLK) by 5.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 324 shares of the asset manager’s stock after selling 18 shares during the period. CVA Family Office LLC’s holdings in BlackRock were worth $340,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of BlackRock by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock valued at $13,027,419,000 after purchasing an additional 387,466 shares in the last quarter. Royal Bank of Canada boosted its stake in BlackRock by 73.2% during the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after buying an additional 555,098 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in BlackRock by 10.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager’s stock worth $1,142,340,000 after buying an additional 111,694 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in BlackRock by 32.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock worth $1,071,339,000 after acquiring an additional 279,336 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of BlackRock by 13.2% in the 1st quarter. Invesco Ltd. now owns 932,899 shares of the asset manager’s stock valued at $882,970,000 after acquiring an additional 108,473 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Performance

BlackRock stock opened at $1,138.60 on Friday. The firm has a fifty day simple moving average of $1,139.57 and a two-hundred day simple moving average of $1,053.41. 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 twelve month low of $773.74 and a twelve month high of $1,219.94. The company has a market capitalization of $176.31 billion, a PE ratio of 29.28, a P/E/G ratio of 1.97 and a beta of 1.45.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The company had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. During the same quarter in the prior year, the firm posted $11.46 EPS. The firm’s quarterly revenue was up 25.2% on a year-over-year basis. Research analysts expect that BlackRock will post 47.41 EPS for the current year.

Wall Street Analysts Forecast Growth

BLK has been the topic of several research analyst reports. Wells Fargo & Company decreased their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 16th. BMO Capital Markets increased their price target on shares of BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Weiss Ratings restated a “buy (b-)” rating on shares of BlackRock in a research report on Wednesday, October 8th. TD Cowen upped their target price on shares of BlackRock from $1,301.00 to $1,407.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Citigroup raised their price target on BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $1,299.29.

Insider Activity at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the completion of the sale, the director directly owned 7,205 shares in the company, valued at $8,394,113.20. This represents a 62.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director J. Richard Kushel sold 17,142 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the transaction, the director owned 61,369 shares in the company, valued at $68,763,964.50. The trade was a 21.83% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

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.