Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 58 Shares of BlackRock $BLK

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its holdings in shares of BlackRock (NYSE:BLK) by 8.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 616 shares of the asset manager’s stock after selling 58 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in BlackRock were worth $646,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in BlackRock by 2.9% during the first 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 period. Royal Bank of Canada lifted 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 worth $1,243,059,000 after purchasing an additional 555,098 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake 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 purchasing an additional 111,694 shares during the period. Goldman Sachs Group Inc. lifted its stake in BlackRock by 32.8% during the first 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 period. Finally, Invesco Ltd. lifted its stake in BlackRock by 13.2% during the first 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 period. Institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 7,205 shares in the company, valued at $8,394,113.20. This represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction that occurred on 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. This represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on BLK. Keefe, Bruyette & Woods boosted their price target on shares of BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. BMO Capital Markets boosted their price target on shares of BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Tuesday. Weiss Ratings restated a “buy (b-)” rating on shares of BlackRock in a research report on Wednesday, October 8th. Argus boosted their price target on shares of BlackRock from $1,165.00 to $1,330.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, Wells Fargo & Company reduced their price target 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. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $1,299.29.

BlackRock Price Performance

Shares of BLK stock opened at $1,125.33 on Friday. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94. The firm’s 50 day moving average is $1,139.52 and its 200-day moving average is $1,049.53. The firm has a market capitalization of $174.26 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 1.95 and a beta of 1.45. 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 (NYSE:BLK) last announced 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 return on equity of 15.36% and a net margin of 26.64%.The company 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. BlackRock’s revenue for the quarter was up 25.2% on a year-over-year basis. Sell-side analysts forecast that BlackRock will post 47.41 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.