BlackRock, Inc. (NYSE:BLK) Shares Sold by Miramar Capital LLC

Miramar Capital LLC decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,491 shares of the asset manager’s stock after selling 75 shares during the quarter. BlackRock makes up approximately 2.3% of Miramar Capital LLC’s holdings, making the stock its 24th largest holding. Miramar Capital LLC’s holdings in BlackRock were worth $9,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the stock. Archer Investment Corp raised its holdings in BlackRock by 50.0% in the third quarter. Archer Investment Corp now owns 63 shares of the asset manager’s stock valued at $60,000 after buying an additional 21 shares during the period. Empowered Funds LLC grew its stake in shares of BlackRock by 9.2% in the third quarter. Empowered Funds LLC now owns 2,713 shares of the asset manager’s stock valued at $2,576,000 after buying an additional 228 shares in the last quarter. Empirical Finance LLC grew its position in BlackRock by 1.9% in the third quarter. Empirical Finance LLC now owns 4,973 shares of the asset manager’s stock valued at $4,722,000 after acquiring an additional 91 shares in the last quarter. Signature Estate & Investment Advisors LLC increased its stake in BlackRock by 16.9% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 24,265 shares of the asset manager’s stock worth $23,040,000 after buying an additional 3,511 shares during the period. Finally, CIBC Asset Management Inc increased its position in shares of BlackRock by 5.8% during the third quarter. CIBC Asset Management Inc now owns 35,278 shares of the asset manager’s stock worth $33,497,000 after acquiring an additional 1,924 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group raised their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley boosted their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Evercore ISI boosted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Price Performance

BLK opened at $1,046.87 on Friday. BlackRock, Inc. has a 1 year low of $708.75 and a 1 year high of $1,068.34. The stock has a fifty day moving average price of $969.04 and a 200 day moving average price of $869.97. 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 stock has a market cap of $155.07 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 1.84 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the prior year, the company posted $10.91 EPS. The firm’s revenue was up 14.9% on a year-over-year basis. Analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

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.