Forte Capital LLC ADV Trims Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Forte Capital LLC ADV lowered its position in BlackRock, Inc. (NYSE:BLK) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,762 shares of the asset manager’s stock after selling 209 shares during the quarter. BlackRock makes up approximately 1.2% of Forte Capital LLC ADV’s portfolio, making the stock its 24th biggest position. Forte Capital LLC ADV’s holdings in BlackRock were worth $10,219,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BLK. Pathway Financial Advisers LLC increased its holdings 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 valued at $993,312,000 after purchasing an additional 1,044,962 shares during the period. 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 worth $7,526,120,000 after acquiring an additional 791,874 shares during the period. Capital Research Global Investors grew its holdings in BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after acquiring an additional 435,358 shares during the period. Vanguard Group Inc. grew its holdings in BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after acquiring an additional 292,017 shares during the period. Finally, M&G Plc acquired a new position in BlackRock during the first quarter worth $161,918,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

NYSE BLK opened at $1,029.82 on Thursday. The business’s 50-day moving average price is $947.54 and its 200 day moving average price is $857.04. BlackRock, Inc. has a twelve month low of $646.91 and a twelve month high of $1,057.51. The company has a market capitalization of $152.55 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 1.77 and a beta of 1.30. 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 released its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion for 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 firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business posted $10.91 earnings per share. On average, research analysts predict that BlackRock, Inc. will post 42.94 earnings per share for the current year.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $875.03, for a total transaction of $10,500,360.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,670,194.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 35,061 shares of company stock worth $30,734,840 over the last three months. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BLK. JPMorgan Chase & Co. upped their target price on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. The Goldman Sachs Group upped their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Citigroup upped their target price on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. StockNews.com began coverage on BlackRock in a report on Tuesday. They issued a “hold” rating on the stock. Finally, Barclays upped 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. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average 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.