Lake Street Private Wealth LLC Sells 531 Shares of BlackRock, Inc. (NYSE:BLK)

Lake Street Private Wealth LLC lowered its stake in BlackRock, Inc. (NYSE:BLK - Free Report) by 30.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,226 shares of the asset manager's stock after selling 531 shares during the quarter. Lake Street Private Wealth LLC's holdings in BlackRock were worth $1,164,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Marino Stram & Associates LLC increased its position in shares of BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager's stock valued at $3,227,000 after buying an additional 10 shares during the period. Onyx Bridge Wealth Group LLC grew its holdings in shares of BlackRock by 3.5% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager's stock worth $312,000 after acquiring an additional 11 shares during the period. XML Financial LLC raised its position in shares of BlackRock by 2.6% in the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager's stock worth $372,000 after acquiring an additional 12 shares in the last quarter. Pine Haven Investment Counsel Inc lifted its stake in shares of BlackRock by 1.3% in the 3rd quarter. Pine Haven Investment Counsel Inc now owns 937 shares of the asset manager's stock valued at $890,000 after purchasing an additional 12 shares during the period. Finally, Hexagon Capital Partners LLC lifted its stake in shares of BlackRock by 6.1% in the 2nd quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager's stock valued at $177,000 after purchasing an additional 13 shares during the period. Institutional investors and hedge funds own 80.69% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BLK shares. Citigroup increased their price objective on BlackRock from $920.00 to $930.00 and gave the stock a "buy" rating in a report on Tuesday, July 16th. Morgan Stanley increased their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Barclays boosted their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. The Goldman Sachs Group raised their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Finally, Argus lifted their target price on shares of BlackRock from $880.00 to $910.00 and gave the company a "buy" rating in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $995.31.

BlackRock Stock Down 1.3 %

Shares of BLK stock traded down $12.65 during mid-day trading on Wednesday, hitting $988.16. The company's stock had a trading volume of 438,135 shares, compared to its average volume of 575,529. The stock has a market cap of $146.84 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 1.94 and a beta of 1.30. 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 52-week low of $596.18 and a 52-week high of $1,032.00. The business has a 50-day moving average price of $924.23 and a 200 day moving average price of $841.60.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results 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 15.44% and a net margin of 32.36%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the previous year, the firm earned $10.91 EPS. BlackRock's revenue was up 14.9% on a year-over-year basis. Research analysts predict that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

Insider Activity at BlackRock

In other news, CEO Laurence Fink sold 29,450 shares of the firm's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Wiedman sold 11,061 shares of the business's stock in a transaction that occurred on 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 owns 6,480 shares of the company's stock, valued at $5,527,116. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,042 shares of company stock worth $56,857,777 over the last quarter. Company insiders own 0.90% of the company's stock.

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.