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

SRN Advisors LLC reduced its stake in shares of BlackRock, Inc. (NYSE:BLK) by 71.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BLK. Redmont Wealth Advisors LLC bought a new stake in shares of BlackRock in the 1st quarter valued at about $27,000. Fairscale Capital LLC purchased a new stake in BlackRock during the second quarter valued at approximately $31,000. Chilton Capital Management LLC acquired a new stake in BlackRock in the first quarter valued at approximately $38,000. MFA Wealth Advisors LLC grew 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 worth $38,000 after purchasing an additional 20 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new position in shares of BlackRock during the second quarter worth $53,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. The Goldman Sachs Group upped their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company lifted their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Morgan Stanley upped their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Citigroup lifted their price objective on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $995.31.

Insider Activity at BlackRock

In related 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 transaction of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares in the company, valued at $4,826,802.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Wiedman sold 12,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value 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 approximately $5,832,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,042 shares of company stock valued at $56,857,777. 0.90% of the stock is owned by company insiders.

BlackRock Price Performance

NYSE:BLK opened at $974.07 on Friday. The firm’s fifty day moving average is $928.50 and its two-hundred day moving average is $844.05. The firm has a market cap of $144.75 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a one year low of $596.18 and a one year high of $1,032.00. 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 (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. BlackRock’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the company earned $10.91 earnings per share. Research analysts expect that BlackRock, Inc. will post 41.73 EPS for the current year.

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.