Avior Wealth Management LLC Has $4.17 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Avior Wealth Management LLC lessened its stake in BlackRock, Inc. (NYSE:BLK) by 4.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,394 shares of the asset manager’s stock after selling 195 shares during the quarter. Avior Wealth Management LLC’s holdings in BlackRock were worth $4,173,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Axxcess Wealth Management LLC lifted its holdings in shares of BlackRock by 35.8% in the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after purchasing an additional 1,248 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of BlackRock by 219.5% during the 1st quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock worth $36,737,000 after purchasing an additional 30,274 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake in BlackRock by 20.4% in the third quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock valued at $3,169,000 after buying an additional 565 shares during the period. GAMMA Investing LLC lifted its holdings in BlackRock by 62.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,291 shares of the asset manager’s stock valued at $1,804,000 after purchasing an additional 884 shares during the last quarter. Finally, Aptus Capital Advisors LLC boosted its position in BlackRock by 20.8% during the third quarter. Aptus Capital Advisors LLC now owns 21,333 shares of the asset manager’s stock worth $20,256,000 after purchasing an additional 3,675 shares during the period. 80.69% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on 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 directly owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.

BlackRock Stock Down 2.1 %

Shares of NYSE:BLK opened at $1,028.38 on Wednesday. The business’s 50 day moving average is $975.38 and its 200 day moving average is $875.55. The stock has a market cap of $159.27 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.87 and a beta of 1.30. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 12-month low of $712.11 and a 12-month high of $1,068.34.

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

Wall Street Analyst Weigh In

BLK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Morgan Stanley upped their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company raised their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI boosted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,019.62.

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.