BlackRock, Inc. (NYSE:BLK) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC reduced its position in BlackRock, Inc. (NYSE:BLK) by 30.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,226 shares of the asset manager’s stock after selling 531 shares during the period. Lake Street Private Wealth LLC’s holdings in BlackRock were worth $1,164,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BLK. Capital Research Global Investors grew its stake in BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after acquiring an additional 435,358 shares during the period. Vanguard Group Inc. grew its stake in shares of BlackRock by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after buying an additional 292,017 shares during the period. M&G Plc purchased a new stake in shares of BlackRock during the 1st quarter valued at $161,918,000. Sarasin & Partners LLP grew its stake in shares of BlackRock by 174.8% during the 2nd quarter. Sarasin & Partners LLP now owns 184,291 shares of the asset manager’s stock valued at $145,096,000 after buying an additional 117,218 shares during the period. Finally, Swedbank AB purchased a new stake in shares of BlackRock during the 1st quarter valued at $86,282,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Down 0.9 %

Shares of BlackRock stock traded down $8.80 during trading on Wednesday, reaching $992.01. The company had a trading volume of 98,335 shares, compared to its average volume of 573,855. The company has a market cap of $147.41 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The firm’s fifty day moving average is $921.62 and its 200-day moving average is $840.57. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $1,032.00.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.91 EPS. On average, analysts anticipate that BlackRock, Inc. will post 41.73 EPS for the current year.

Insider Activity

In other news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 11,061 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,527,116. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,042 shares of company stock worth $56,857,777. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Barclays boosted their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday. StockNews.com started coverage on shares of BlackRock in a report on Sunday. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $995.31.

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.