Fire Capital Management LLC Sells 41 Shares of BlackRock $BLK

Fire Capital Management LLC lessened its holdings in BlackRock (NYSE:BLK) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,042 shares of the asset manager’s stock after selling 41 shares during the quarter. Fire Capital Management LLC’s holdings in BlackRock were worth $1,093,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of BlackRock by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock worth $13,027,419,000 after purchasing an additional 387,466 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of BlackRock by 73.2% in the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock worth $1,243,059,000 after purchasing an additional 555,098 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of BlackRock by 10.2% in the 1st 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 purchasing an additional 111,694 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of 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 purchasing an additional 279,336 shares during the last quarter. Finally, Invesco Ltd. grew 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 worth $882,970,000 after purchasing an additional 108,473 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

BlackRock stock opened at $1,125.20 on Wednesday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94. The company has a market cap of $174.24 billion, a PE ratio of 28.93, a PEG ratio of 1.96 and a beta of 1.45. The company’s 50-day moving average is $1,139.39 and its two-hundred day moving average is $1,058.01.

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

Insider Transactions at BlackRock

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 7,205 shares in the company, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BLK. Argus upped their target price on shares of BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft set a $1,320.00 target price on shares of BlackRock and gave the stock a “buy” rating in a report on Wednesday, October 15th. TD Cowen upped their price target 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. UBS Group reiterated a “hold” rating on shares of BlackRock in a research report on Tuesday, October 21st. Finally, Jefferies Financial Group upped their price target on shares of BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,299.29.

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.