BlackRock, Inc. (NYSE:BLK) Shares Sold by Simmons Bank

Simmons Bank lessened its stake in BlackRock, Inc. (NYSE:BLK) by 32.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 409 shares of the asset manager’s stock after selling 193 shares during the quarter. Simmons Bank’s holdings in BlackRock were worth $388,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Pathway Financial Advisers LLC lifted its holdings in BlackRock by 89,389.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after buying an additional 1,044,962 shares during the last quarter. International Assets Investment Management LLC lifted its stake in BlackRock by 104,468.9% during the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after purchasing an additional 791,874 shares during the last quarter. Capital Research Global Investors boosted its holdings in BlackRock by 11.1% in the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after purchasing an additional 435,358 shares during the period. Vanguard Group Inc. increased its stake in BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after purchasing an additional 292,017 shares during the last quarter. Finally, M&G Plc acquired a new stake in shares of BlackRock during the first quarter worth $161,918,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. TD Cowen boosted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their target price on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Evercore ISI increased their price target on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barclays boosted their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, The Goldman Sachs Group increased their target price on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

Insider Activity

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

BlackRock Stock Down 0.5 %

BlackRock stock opened at $1,030.86 on Thursday. The company’s 50-day moving average price is $959.13 and its two-hundred day moving average price is $865.58. The stock has a market cap of $152.70 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 1.85 and a beta of 1.30. BlackRock, Inc. has a 52 week low of $673.00 and a 52 week high of $1,068.34. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.91 earnings per share. On average, analysts expect that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

BlackRock 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.