SRN Advisors LLC Reduces Stock Position in BlackRock, Inc. (NYSE:BLK)

SRN Advisors LLC decreased its position in BlackRock, Inc. (NYSE:BLK - Free Report) by 71.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 611 shares of the asset manager's stock after selling 1,544 shares during the quarter. SRN Advisors LLC's holdings in BlackRock were worth $580,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC grew its position in BlackRock by 89,389.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager's stock valued at $993,312,000 after buying an additional 1,044,962 shares during the period. International Assets Investment Management LLC grew its position 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 valued at $7,526,120,000 after buying an additional 791,874 shares during the period. Capital Research Global Investors grew its position in BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager's stock valued at $3,630,127,000 after buying an additional 435,358 shares during the period. Vanguard Group Inc. grew its position 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 buying an additional 292,017 shares during the period. Finally, M&G Plc bought a new position in BlackRock during the first quarter valued at about $161,918,000. Institutional investors own 80.69% of the company's stock.

BlackRock Price Performance

NYSE BLK traded down $9.93 during trading on Friday, reaching $974.07. The company's stock had a trading volume of 433,666 shares, compared to its average volume of 573,772. The stock has a market capitalization of $144.75 billion, a PE ratio of 24.75, a P/E/G ratio of 1.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The firm has a fifty day moving average of $928.50 and a 200 day moving average of $844.48. BlackRock, Inc. has a one year low of $596.18 and a one year high of $1,032.00.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating analysts' consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same period last year, the firm posted $10.91 earnings per share. BlackRock's quarterly revenue was up 14.9% on a year-over-year basis. Analysts expect that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 12,000 shares of the 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 in the company, valued at approximately $5,832,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the company's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,042 shares of company stock valued at $56,857,777 in the last quarter. Corporate insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Morgan Stanley upped their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an "overweight" rating in a report on Monday, October 14th. StockNews.com began coverage on shares of BlackRock in a report on Sunday, October 20th. They set a "hold" rating on the stock. Wells Fargo & Company upped their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a report on Wednesday, October 9th. Finally, Evercore ISI upped their price objective on shares of BlackRock from $995.00 to $1,040.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $995.31.

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.