BlackRock $BLK Stock Holdings Lowered by Fisher Asset Management LLC

Fisher Asset Management LLC decreased its position in shares of BlackRock (NYSE:BLK) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,382,637 shares of the asset manager’s stock after selling 20,626 shares during the quarter. Fisher Asset Management LLC’s holdings in BlackRock were worth $1,463,232,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Trust raised its holdings in BlackRock by 5.6% in the 3rd quarter. Legacy Trust now owns 644 shares of the asset manager’s stock worth $739,000 after acquiring an additional 34 shares during the last quarter. Eurizon Capital SGR S.p.A. lifted its position in BlackRock by 3.0% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 64,529 shares of the asset manager’s stock valued at $68,340,000 after acquiring an additional 1,890 shares in the last quarter. PBU The Pension Fund of Early Childhood & Youth Educators lifted its position in BlackRock by 9.4% in the 3rd quarter. PBU The Pension Fund of Early Childhood & Youth Educators now owns 28,785 shares of the asset manager’s stock valued at $30,463,000 after acquiring an additional 2,464 shares in the last quarter. Werba Rubin Papier Wealth Management bought a new position in BlackRock in the 3rd quarter valued at approximately $246,000. Finally, King Luther Capital Management Corp boosted its stake in BlackRock by 36.1% during the 3rd quarter. King Luther Capital Management Corp now owns 800 shares of the asset manager’s stock valued at $847,000 after purchasing an additional 212 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 0.8%

BLK opened at $1,216.48 on Friday. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average price of $1,111.47 and a 200-day moving average price of $1,067.29. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,242.12. The stock has a market capitalization of $188.40 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 1.27 and a beta of 1.37.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, October 14th. The asset manager reported $15.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.32 by $1.61. BlackRock had a net margin of 24.22% and a return on equity of 15.60%. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.42 billion. During the same quarter last year, the company posted $8.43 earnings per share. The firm’s quarterly revenue was up 19.1% on a year-over-year basis. Equities research analysts forecast that BlackRock will post 57.82 earnings per share for the current year.

Insider Buying and Selling

In other BlackRock news, Director Rachel Lord sold 7,000 shares of the business’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $1,219.55, for a total transaction of $8,536,850.00. Following the completion of the sale, the director directly owned 6,065 shares in the company, valued at approximately $7,396,570.75. The trade was a 53.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BLK shares. Morgan Stanley lifted their target price on BlackRock from $1,468.00 to $1,531.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. UBS Group boosted their price target on BlackRock from $1,277.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, October 15th. Zacks Research downgraded BlackRock from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Evercore reaffirmed an “outperform” rating and set a $1,275.00 price objective (down from $1,300.00) on shares of BlackRock in a research report on Friday, October 9th. Finally, Barclays reduced their price objective on BlackRock from $1,420.00 to $1,410.00 and set an “overweight” rating for the company in a report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,342.25.

Key BlackRock News

These are some of the BLK news items that stood out recently:

• Positive Sentiment: BlackRock’s expansion in private markets, strategic acquisitions and record $15.49 trillion in assets under management are cited as potential long-term growth drivers, though rising expenses could temper the benefit. Article: BlackRock’s Private Markets Expansion: A Key Long-Term Growth Driver?
• Neutral Sentiment: BlackRock’s participation in a London forum on Ethereum reflects institutional interest in tokenization and blockchain settlement, but the report describes discussion rather than a specific business announcement. Article: Ethereum Draws Wall Street Attention As BlackRock And JPMorgan Join London Forum
• Negative Sentiment: Director Rachel Lord sold 7,000 shares, reducing her reported ownership by 53.58%. Insider sales can raise concern, although the filing does not establish the reason for the transaction. SEC filing: BlackRock Form 4

About BlackRock

BlackRock, Inc. is a global investment management and financial technology company serving individuals, institutions, governments and other organizations. Founded in 1988, the company is headquartered in New York City and operates in markets around the world. BlackRock offers investment products and services across asset classes, including equities, fixed income, cash management and alternative investments. Its offerings include exchange-traded funds and other funds under the iShares brand, as well as portfolio management, investment advisory and risk management services.