Gladstone Institutional Advisory LLC Sells 14 Shares of BlackRock, Inc. (NYSE:BLK)

Gladstone Institutional Advisory LLC cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,607 shares of the asset manager’s stock after selling 14 shares during the period. Gladstone Institutional Advisory LLC’s holdings in BlackRock were worth $2,475,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of BlackRock by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after purchasing an additional 292,017 shares during the period. Capital Research Global Investors raised its stake in shares of BlackRock by 11.1% during the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after purchasing an additional 435,358 shares during the period. Ameriprise Financial Inc. raised its stake in shares of BlackRock by 2.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after purchasing an additional 46,728 shares during the period. Legal & General Group Plc raised its stake in shares of BlackRock by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after purchasing an additional 22,311 shares during the period. Finally, Pathway Financial Advisers LLC raised its stake in shares of BlackRock by 89,389.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after purchasing an additional 1,044,962 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. StockNews.com assumed coverage on BlackRock in a research note on Monday, October 28th. They set a “hold” rating on the stock. Argus lifted their price objective on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley lifted their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Barclays lifted their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Evercore ISI boosted their price objective on BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $995.31.

Insider Activity

In other news, Director Mark Wiedman sold 12,000 shares of the business’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 transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was 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 directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Wiedman sold 12,000 shares of the company’s 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 sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was 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 have sold 64,511 shares of company stock valued at $55,568,552. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $985.71 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a fifty-two week low of $623.77 and a fifty-two week high of $1,032.00. The stock has a 50 day moving average price of $940.00 and a two-hundred day moving average price of $850.84. The company has a market capitalization of $146.01 billion, a P/E ratio of 24.33, a PEG ratio of 1.76 and a beta of 1.30.

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, beating the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the previous year, the company posted $10.91 earnings per share. The business’s revenue was up 14.9% on a year-over-year basis. Analysts expect that BlackRock, Inc. will post 42.94 earnings per share for the current year.

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.