Gulf International Bank UK Ltd Lowers Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Gulf International Bank UK Ltd lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 4.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,730 shares of the asset manager’s stock after selling 557 shares during the quarter. Gulf International Bank UK Ltd’s holdings in BlackRock were worth $11,137,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Axxcess Wealth Management LLC grew its stake in shares of BlackRock by 35.8% in the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after acquiring an additional 1,248 shares in the last quarter. Cetera Investment Advisers increased its holdings in 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 period. M&G Plc acquired a new stake in BlackRock in the 1st quarter valued at about $161,918,000. GAMMA Investing LLC boosted its stake in shares of BlackRock by 62.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,291 shares of the asset manager’s stock valued at $1,804,000 after buying an additional 884 shares during the period. Finally, CreativeOne Wealth LLC acquired a new position in shares of BlackRock during the first quarter worth about $759,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BLK opened at $991.50 on Tuesday. The company’s 50 day simple moving average is $942.16 and its 200-day simple moving average is $853.97. The firm has a market cap of $146.87 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 1.77 and a beta of 1.30. BlackRock, Inc. has a 12-month low of $646.91 and a 12-month high of $1,032.00. 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 (NYSE:BLK) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. BlackRock’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the business posted $10.91 earnings per share. As a group, equities analysts predict that BlackRock, Inc. will post 42.94 EPS for the current year.

Wall Street Analyst Weigh In

BLK has been the subject of a number of recent research reports. Evercore ISI lifted their price target on shares of BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley lifted their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Barclays increased their target price on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group lifted their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, StockNews.com initiated coverage on BlackRock in a report on Tuesday. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $995.31.

Insider Transactions at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’s 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 transaction, the director now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 35,061 shares of company stock worth $30,734,840 over the last 90 days. 0.90% of the stock is currently owned by insiders.

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.