BlackRock, Inc. (NYSE:BLK) Holdings Decreased by Boston Financial Mangement LLC

Boston Financial Mangement LLC lowered its position in BlackRock, Inc. (NYSE:BLK - Free Report) by 57.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,674 shares of the asset manager's stock after selling 12,883 shares during the quarter. Boston Financial Mangement LLC's holdings in BlackRock were worth $9,186,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new stake in BlackRock in the first quarter valued at $27,000. Fairscale Capital LLC acquired a new stake in shares of BlackRock in the 2nd quarter valued at about $31,000. Chilton Capital Management LLC bought a new position in shares of BlackRock during the first quarter worth about $38,000. MFA Wealth Advisors LLC increased its holdings in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager's stock valued at $38,000 after buying an additional 20 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new stake in BlackRock during the second quarter valued at approximately $53,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 29,450 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now owns 353,718 shares of the company's stock, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Mark Wiedman sold 12,000 shares of the firm's stock in a transaction on 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 completion of the sale, the director now directly owns 6,480 shares of the company's stock, valued at $5,832,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Laurence Fink sold 29,450 shares of the business'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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,042 shares of company stock valued at $56,857,777. Corporate insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BLK. Argus boosted their price target on BlackRock from $880.00 to $910.00 and gave the company a "buy" rating in a report on Tuesday, July 16th. Evercore ISI increased their target price on shares of BlackRock from $995.00 to $1,040.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Morgan Stanley lifted their price target 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. Citigroup upped their target price on BlackRock from $920.00 to $930.00 and gave the company a "buy" rating in a report on Tuesday, July 16th. Finally, UBS Group reduced their price objective on BlackRock from $842.00 to $837.00 and set a "neutral" rating for the company in a research report on Wednesday, July 10th. Three 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.com, BlackRock currently has an average rating of "Moderate Buy" and a consensus price target of $995.31.

BlackRock Price Performance

BLK traded down $2.82 on Tuesday, reaching $983.40. The company had a trading volume of 269,527 shares, compared to its average volume of 571,148. The company has a market capitalization of $146.13 billion, a P/E ratio of 25.09, a PEG ratio of 1.94 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a fifty day moving average of $930.84 and a 200-day moving average of $845.90. BlackRock, Inc. has a one year low of $600.26 and a one year high of $1,032.00.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 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 business's revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the business earned $10.91 earnings per share. As a group, equities research analysts anticipate that BlackRock, Inc. will post 41.73 earnings per share for the current year.

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.