Boston Financial Mangement LLC Sells 12,883 Shares of BlackRock, Inc. (NYSE:BLK)

Boston Financial Mangement LLC lowered its stake in BlackRock, Inc. (NYSE:BLK) by 57.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,674 shares of the asset manager’s stock after selling 12,883 shares during the quarter. Boston Financial Mangement LLC’s holdings in BlackRock were worth $9,186,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BLK. Traynor Capital Management Inc. increased its stake in BlackRock by 6.3% in the third quarter. Traynor Capital Management Inc. now owns 321 shares of the asset manager’s stock valued at $305,000 after purchasing an additional 19 shares in the last quarter. abrdn plc increased its position in BlackRock by 8.6% in the 3rd quarter. abrdn plc now owns 61,826 shares of the asset manager’s stock valued at $58,205,000 after buying an additional 4,912 shares in the last quarter. Old Port Advisors raised its stake in BlackRock by 5.9% during the 3rd quarter. Old Port Advisors now owns 428 shares of the asset manager’s stock worth $406,000 after buying an additional 24 shares during the period. Nisa Investment Advisors LLC grew its stake in BlackRock by 0.6% in the third quarter. Nisa Investment Advisors LLC now owns 41,711 shares of the asset manager’s stock valued at $39,605,000 after acquiring an additional 265 shares during the period. Finally, Independent Investors Inc. bought a new stake in shares of BlackRock during the third quarter valued at approximately $214,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,042 shares of company stock valued at $56,857,777. Company insiders own 0.90% of the company’s stock.

BlackRock Trading Up 1.4 %

Shares of BLK stock opened at $987.24 on Tuesday. The firm has a market cap of $146.70 billion, a P/E ratio of 25.09, a PEG ratio of 1.94 and a beta of 1.30. The company has a 50 day moving average of $930.84 and a 200-day moving average of $845.90. 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 $600.26 and a 12-month high of $1,032.00.

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

Analyst Ratings Changes

BLK has been the subject of a number of recent research reports. UBS Group decreased their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Morgan Stanley upped their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Citigroup lifted their price target on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. StockNews.com began coverage on BlackRock in a report on Monday. They set a “hold” rating for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.