BlackRock, Inc. (NYSE:BLK) Shares Sold by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 22.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 800 shares of the asset manager’s stock after selling 230 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in BlackRock were worth $760,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new position in shares of BlackRock during the first quarter worth about $27,000. Fairscale Capital LLC acquired a new position in shares of BlackRock in the second quarter worth about $31,000. MFA Wealth Advisors LLC lifted its stake in shares of 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 acquiring an additional 20 shares in the last quarter. Chilton Capital Management LLC acquired a new position in shares of BlackRock in the first quarter worth about $38,000. Finally, City Holding Co. acquired a new position in shares of BlackRock in the third quarter worth about $55,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,042 shares of company stock valued at $56,857,777. Insiders own 0.90% of the company’s stock.

BlackRock Stock Down 1.0 %

NYSE BLK traded down $9.93 during trading on Friday, hitting $974.07. 433,666 shares of the company traded hands, compared to its average volume of 573,772. The company has a market capitalization of $144.75 billion, a P/E ratio of 24.75, 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. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $1,032.00. The business has a fifty day simple moving average of $926.47 and a 200 day simple moving average of $842.59.

BlackRock (NYSE:BLK) last posted 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 net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter last year, the business posted $10.91 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, sell-side analysts predict that BlackRock, Inc. will post 41.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on BLK. UBS Group cut their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Morgan Stanley boosted their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Barclays boosted their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Three research 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $995.31.

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.