Avior Wealth Management LLC Trims Stake in BlackRock, Inc. (NYSE:BLK)

Avior Wealth Management LLC cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,394 shares of the asset manager’s stock after selling 195 shares during the quarter. Avior Wealth Management LLC’s holdings in BlackRock were worth $4,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Axxcess Wealth Management LLC increased its position in shares of BlackRock by 35.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after purchasing an additional 1,248 shares during the last quarter. Cetera Investment Advisers lifted its stake in BlackRock by 219.5% in the first quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock worth $36,737,000 after purchasing an additional 30,274 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its position in BlackRock by 20.4% during the third quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock valued at $3,169,000 after buying an additional 565 shares during the period. GAMMA Investing LLC grew its stake in shares of BlackRock by 62.8% during the second quarter. GAMMA Investing LLC now owns 2,291 shares of the asset manager’s stock valued at $1,804,000 after buying an additional 884 shares during the last quarter. Finally, Aptus Capital Advisors LLC increased its holdings in shares of BlackRock by 20.8% in the third quarter. Aptus Capital Advisors LLC now owns 21,333 shares of the asset manager’s stock worth $20,256,000 after buying an additional 3,675 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BLK. Deutsche Bank Aktiengesellschaft increased their target price on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a report on Monday, November 11th. Barclays boosted their price target on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. raised their price target on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Evercore ISI lifted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, StockNews.com initiated coverage on BlackRock in a research note on Wednesday, November 13th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Stock Performance

Shares of BLK opened at $1,028.38 on Wednesday. BlackRock, Inc. has a 52 week low of $712.11 and a 52 week high of $1,068.34. The stock has a market cap of $159.27 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.87 and a beta of 1.30. The business has a 50-day simple moving average of $975.38 and a two-hundred day simple moving average of $875.55. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

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