BlackRock, Inc. (NYSE:BLK) Shares Sold by King Wealth Management Group

King Wealth Management Group trimmed its position in BlackRock, Inc. (NYSE:BLK) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,142 shares of the asset manager’s stock after selling 13 shares during the quarter. King Wealth Management Group’s holdings in BlackRock were worth $1,084,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BLK. Pathway Financial Advisers LLC grew its stake in shares of BlackRock by 89,389.4% in the third 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 in the last quarter. International Assets Investment Management LLC grew its holdings in BlackRock by 104,468.9% during the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock valued at $7,526,120,000 after purchasing an additional 791,874 shares during the last quarter. Capital Research Global Investors lifted its position 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 last quarter. Vanguard Group Inc. boosted its holdings in BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after purchasing an additional 292,017 shares during the period. Finally, M&G Plc bought a new stake in shares of BlackRock in the 1st quarter worth approximately $161,918,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This represents a 64.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Evercore ISI increased their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. TD Cowen raised their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Morgan Stanley upped their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Price Performance

Shares of BlackRock stock opened at $1,047.01 on Friday. The company has a 50-day simple moving average of $962.02 and a two-hundred day simple moving average of $866.74. BlackRock, Inc. has a twelve month low of $697.70 and a twelve month high of $1,068.34. The stock has a market capitalization of $155.09 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 1.84 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 (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating analysts’ consensus estimates 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 15.52% and a net margin of 31.37%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the company posted $10.91 EPS. Analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current 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.