ABLE Financial Group LLC Sells 21 Shares of BlackRock, Inc. (NYSE:BLK)

ABLE Financial Group LLC reduced its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 2.4% during the third quarter, HoldingsChannel.com reports. The fund owned 847 shares of the asset manager’s stock after selling 21 shares during the quarter. ABLE Financial Group LLC’s holdings in BlackRock were worth $804,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Axxcess Wealth Management LLC boosted its holdings in shares of BlackRock by 35.8% in the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after buying an additional 1,248 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of BlackRock by 219.5% during the 1st quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock worth $36,737,000 after purchasing an additional 30,274 shares during the last quarter. M&G Plc bought a new stake in shares of BlackRock in the 1st quarter worth approximately $161,918,000. GAMMA Investing LLC lifted its stake in BlackRock by 62.8% in the second quarter. GAMMA Investing LLC now owns 2,291 shares of the asset manager’s stock valued at $1,804,000 after purchasing an additional 884 shares during the last quarter. Finally, CreativeOne Wealth LLC bought a new position in BlackRock during the first quarter valued at $759,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $875.03, for a total value of $10,500,360.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,670,194.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 35,061 shares of company stock worth $30,734,840. Insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of BLK traded up $12.09 during mid-day trading on Friday, reaching $1,048.15. 84,042 shares of the stock traded hands, compared to its average volume of 571,497. 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 1 year low of $650.63 and a 1 year high of $1,057.51. The company has a market cap of $155.26 billion, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 1.78 and a beta of 1.30. The firm has a fifty day moving average price of $947.54 and a 200 day moving average price of $857.04.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the company earned $10.91 EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, equities research analysts predict that BlackRock, Inc. will post 42.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wells Fargo & Company boosted their target price on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. StockNews.com assumed coverage on shares of BlackRock in a research report on Tuesday. They issued a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods raised their price objective on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,004.54.

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.