TFB Advisors LLC Sells 13 Shares of BlackRock $BLK

TFB Advisors LLC decreased its stake in shares of BlackRock (NYSE:BLK) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 236 shares of the asset manager’s stock after selling 13 shares during the period. TFB Advisors LLC’s holdings in BlackRock were worth $248,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BLK. Securian Asset Management Inc. bought a new stake in BlackRock during the 1st quarter valued at approximately $7,331,000. Prudent Man Advisors LLC purchased a new position in shares of BlackRock in the 1st quarter valued at approximately $2,018,000. Allianz SE boosted its position in shares of BlackRock by 2.6% during the first quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock valued at $10,435,000 after purchasing an additional 277 shares in the last quarter. Arizona State Retirement System purchased a new stake in BlackRock in the first quarter worth $40,868,000. Finally, Weil Company Inc. raised its holdings in BlackRock by 194.6% in the first quarter. Weil Company Inc. now owns 2,074 shares of the asset manager’s stock worth $1,963,000 after purchasing an additional 1,370 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of research reports. TD Cowen boosted their target price on shares of BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Loop Capital set a $1,255.00 price objective on shares of BlackRock in a report on Tuesday. Citigroup boosted their price target on BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Bank of America raised their price objective on BlackRock from $1,394.00 to $1,456.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. lifted their price objective on BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a research note on Thursday, October 2nd. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,299.29.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction 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 transaction, the director owned 61,369 shares in the company, valued at $68,763,964.50. This trade represents a 21.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction 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 owned 7,205 shares in the company, valued at $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

BlackRock Stock Down 0.4%

BLK opened at $1,125.33 on Friday. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The firm has a 50 day moving average price of $1,139.52 and a 200-day moving average price of $1,049.53. The stock 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.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share 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 company had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.22 billion. During the same quarter in the prior year, the firm posted $11.46 earnings per share. BlackRock’s quarterly revenue was up 25.2% on a year-over-year basis. Equities research analysts forecast that BlackRock will post 47.41 earnings per share for the current 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.