Symphony Financial Ltd. Co. Sells 21 Shares of BlackRock, Inc. (NYSE:BLK)

Symphony Financial Ltd. Co. lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 377 shares of the asset manager’s stock after selling 21 shares during the period. Symphony Financial Ltd. Co.’s holdings in BlackRock were worth $356,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Eastern Bank lifted its holdings in shares of BlackRock by 65.4% during the 3rd quarter. Eastern Bank now owns 50,259 shares of the asset manager’s stock valued at $47,722,000 after purchasing an additional 19,871 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in BlackRock by 14.1% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 17,626 shares of the asset manager’s stock valued at $16,736,000 after buying an additional 2,183 shares during the last quarter. Oakworth Capital Inc. raised its position in BlackRock by 16.7% in the 3rd quarter. Oakworth Capital Inc. now owns 894 shares of the asset manager’s stock valued at $849,000 after buying an additional 128 shares during the last quarter. Foundations Investment Advisors LLC raised its position in BlackRock by 9.8% in the 3rd quarter. Foundations Investment Advisors LLC now owns 996 shares of the asset manager’s stock valued at $945,000 after buying an additional 89 shares during the last quarter. Finally, Ledyard National Bank raised its position in BlackRock by 14.0% in the 3rd quarter. Ledyard National Bank now owns 1,108 shares of the asset manager’s stock valued at $1,052,000 after buying an additional 136 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,042 shares of company stock worth $56,857,777. 0.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group lifted their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. TD Cowen lifted their target price on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Citigroup lifted their target price on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Barclays boosted their price target on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Argus boosted their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $995.31.

BlackRock Stock Performance

NYSE:BLK opened at $1,000.64 on Wednesday. The stock’s 50-day simple moving average is $921.62 and its 200 day simple moving average is $840.57. The firm has a market capitalization of $148.70 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 1.94 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 twelve month low of $596.18 and a twelve month high of $1,032.00.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the company earned $10.91 earnings per share. On average, analysts anticipate that BlackRock, Inc. will post 41.73 EPS for the current fiscal 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.