Private Advisor Group LLC Cuts Stake in BlackRock, Inc. (BLK)

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Private Advisor Group LLC trimmed its position in BlackRock, Inc. (NYSE:BLK) by 59.3% during the third quarter, HoldingsChannel reports. The firm owned 6,271 shares of the asset manager’s stock after selling 9,144 shares during the quarter. Private Advisor Group LLC’s holdings in BlackRock were worth $2,956,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of BLK. Truvestments Capital LLC bought a new stake in shares of BlackRock in the third quarter valued at about $116,000. Canton Hathaway LLC bought a new stake in shares of BlackRock in the third quarter valued at about $146,000. AlphaMark Advisors LLC bought a new stake in shares of BlackRock in the second quarter valued at about $147,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of BlackRock in the second quarter valued at about $150,000. Finally, Kaizen Advisory LLC lifted its holdings in shares of BlackRock by 156.7% in the second quarter. Kaizen Advisory LLC now owns 308 shares of the asset manager’s stock valued at $154,000 after purchasing an additional 188 shares in the last quarter. Institutional investors own 82.65% of the company’s stock.

BLK opened at $413.95 on Friday. BlackRock, Inc. has a 52-week low of $376.31 and a 52-week high of $594.52. The stock has a market cap of $67.78 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.27 and a beta of 1.54. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.87 and a current ratio of 3.87.

BlackRock (NYSE:BLK) last released its earnings results on Tuesday, October 16th. The asset manager reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.93 by $0.59. The business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.65 billion. BlackRock had a return on equity of 13.76% and a net margin of 39.92%. BlackRock’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.76 earnings per share. Equities research analysts predict that BlackRock, Inc. will post 27.71 EPS for the current year.

A number of analysts have recently commented on BLK shares. Citigroup cut their price target on BlackRock to $500.00 and set a “buy” rating on the stock in a report on Wednesday, October 17th. Zacks Investment Research upgraded BlackRock from a “sell” rating to a “hold” rating in a report on Friday, August 31st. Goldman Sachs Group lowered BlackRock from a “conviction-buy” rating to a “buy” rating in a report on Wednesday, October 17th. Wells Fargo & Co dropped their target price on BlackRock from $545.00 to $510.00 and set a “market perform” rating on the stock in a report on Thursday, October 11th. Finally, Argus dropped their target price on BlackRock from $620.00 to $535.00 and set a “buy” rating on the stock in a report on Wednesday, October 17th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $569.08.

In other BlackRock news, Director William E. Ford acquired 2,000 shares of the company’s stock in a transaction on Monday, October 22nd. The shares were purchased at an average price of $395.21 per share, for a total transaction of $790,420.00. Following the completion of the purchase, the director now directly owns 9,466 shares of the company’s stock, valued at $3,741,057.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.86% of the stock is owned by corporate insiders.

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About BlackRock

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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