Victory Capital Management Inc. Decreases Stake in BlackRock, Inc. (NYSE:BLK)

Victory Capital Management Inc. lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,950 shares of the asset manager’s stock after selling 592 shares during the quarter. Victory Capital Management Inc.’s holdings in BlackRock were worth $49,327,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Axxcess Wealth Management LLC increased 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 valued at $3,945,000 after acquiring an additional 1,248 shares during the period. Cetera Investment Advisers increased its stake in BlackRock by 219.5% in the 1st quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock valued at $36,737,000 after buying an additional 30,274 shares during the period. GAMMA Investing LLC increased its stake in 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. Aptus Capital Advisors LLC increased its stake in BlackRock by 20.8% in the 3rd quarter. Aptus Capital Advisors LLC now owns 21,333 shares of the asset manager’s stock valued at $20,256,000 after buying an additional 3,675 shares during the period. Finally, CreativeOne Wealth LLC acquired a new position in BlackRock in the 1st quarter valued at $759,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BLK shares. The Goldman Sachs Group upped their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. upped their price target on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft upped their price target on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company upped their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, TD Cowen upped their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,019.62.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 6,480 shares in the company, valued at $5,832,000. This represents a 64.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is owned by corporate insiders.

BlackRock Price Performance

BlackRock stock opened at $1,046.87 on Friday. BlackRock, Inc. has a 12-month low of $708.75 and a 12-month high of $1,068.34. The stock has a market capitalization of $155.07 billion, a P/E ratio of 25.84, a P/E/G ratio of 1.84 and a beta of 1.30. The firm’s 50-day moving average is $965.44 and its two-hundred day moving average is $867.99. 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 released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period last year, the company earned $10.91 EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities analysts predict that BlackRock, Inc. will post 43.17 earnings per share for the current year.

BlackRock Company 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.