BlackRock, Inc. (BLK) Stake Lessened by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. trimmed its position in BlackRock, Inc. (NYSE:BLK) by 35.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,000 shares of the asset manager’s stock after selling 2,200 shares during the period. Nicola Wealth Management LTD.’s holdings in BlackRock were worth $1,885,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BLK. Flossbach Von Storch AG purchased a new stake in shares of BlackRock in the third quarter worth about $128,258,000. Cornerstone Wealth Management LLC purchased a new stake in shares of BlackRock in the second quarter worth about $377,000. Altman Advisors Inc. lifted its holdings in shares of BlackRock by 3,276.3% in the second quarter. Altman Advisors Inc. now owns 189,004 shares of the asset manager’s stock worth $2,140,000 after buying an additional 183,406 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of BlackRock by 6,346.5% in the second quarter. Bessemer Group Inc. now owns 183,724 shares of the asset manager’s stock worth $91,685,000 after buying an additional 180,874 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of BlackRock by 2.1% in the second quarter. BlackRock Inc. now owns 7,601,685 shares of the asset manager’s stock worth $3,793,546,000 after buying an additional 153,749 shares in the last quarter. 82.76% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on BLK. Barclays lowered their price target on shares of BlackRock from $615.00 to $595.00 and set an “overweight” rating on the stock in a report on Tuesday, July 17th. Goldman Sachs Group lowered their target price on shares of BlackRock to $570.00 and set a “buy” rating on the stock in a research note on Tuesday, July 17th. Zacks Investment Research downgraded shares of BlackRock from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Deutsche Bank raised their target price on shares of BlackRock from $549.00 to $559.00 and gave the company a “buy” rating in a research note on Thursday, September 27th. Finally, JPMorgan Chase & Co. raised shares of BlackRock to an “overweight” rating in a research note on Tuesday, October 9th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. BlackRock presently has a consensus rating of “Buy” and an average target price of $562.46.

In other news, Director William E. Ford bought 2,000 shares of the business’s stock in a transaction dated Monday, October 22nd. The shares were purchased at an average price of $395.21 per share, for a total transaction of $790,420.00. Following the completion of the acquisition, the director now owns 9,466 shares of the company’s stock, valued at $3,741,057.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.75% of the stock is currently owned by company insiders.

Shares of BlackRock stock opened at $407.31 on Wednesday. The company has a current ratio of 3.07, a quick ratio of 3.87 and a debt-to-equity ratio of 0.76. BlackRock, Inc. has a 52-week low of $376.31 and a 52-week high of $594.52. The company has a market capitalization of $64.70 billion, a PE ratio of 18.02, a PEG ratio of 1.22 and a beta of 1.54.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 16th. The asset manager reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.93 by $0.59. BlackRock had a net margin of 39.92% and a return on equity of 13.72%. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter last year, the business earned $5.76 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. As a group, analysts predict that BlackRock, Inc. will post 27.71 EPS for the current year.

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BlackRock Company 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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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