Arthur M. Cohen & Associates LLC Sells 29 Shares of BlackRock, Inc. (NYSE:BLK)

Arthur M. Cohen & Associates LLC cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,490 shares of the asset manager’s stock after selling 29 shares during the quarter. BlackRock makes up approximately 1.9% of Arthur M. Cohen & Associates LLC’s holdings, making the stock its 13th biggest holding. Arthur M. Cohen & Associates LLC’s holdings in BlackRock were worth $10,676,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BLK. Hanlon Investment Management Inc. purchased a new position in BlackRock during the third quarter valued at approximately $248,000. Pittenger & Anderson Inc. increased its holdings in BlackRock by 0.3% during the third quarter. Pittenger & Anderson Inc. now owns 27,760 shares of the asset manager’s stock valued at $26,358,000 after buying an additional 73 shares during the period. Alterna Wealth Management Inc. purchased a new position in BlackRock during the third quarter valued at approximately $241,000. Moloney Securities Asset Management LLC increased its holdings in BlackRock by 6.4% during the third quarter. Moloney Securities Asset Management LLC now owns 2,069 shares of the asset manager’s stock valued at $1,965,000 after buying an additional 124 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new position in BlackRock during the third quarter valued at approximately $96,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction 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 approximately $5,670,194.40. 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 link. Over the last quarter, insiders sold 35,061 shares of company stock valued at $30,734,840. Corporate insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.7 %

NYSE BLK opened at $991.50 on Tuesday. The company has a market capitalization of $146.87 billion, a PE ratio of 24.47, a P/E/G ratio of 1.77 and a beta of 1.30. The company has a fifty day moving average of $942.16 and a 200 day moving average of $853.97. BlackRock, Inc. has a 1 year low of $646.91 and a 1 year high of $1,032.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $10.91 earnings per share. Research analysts forecast that BlackRock, Inc. will post 42.94 earnings per share for the current year.

Wall Street Analyst Weigh In

BLK has been the topic of several research reports. Citigroup lifted their price objective on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Morgan Stanley lifted their price target 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. JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, The Goldman Sachs Group lifted their price target 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 analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $995.31.

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.