Vestmark Advisory Solutions Inc. Sells 1,186 Shares of BlackRock, Inc. (NYSE:BLK)

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Vestmark Advisory Solutions Inc. trimmed its position in BlackRock, Inc. (NYSE:BLK) by 30.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,732 shares of the asset manager’s stock after selling 1,186 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in BlackRock were worth $1,217,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Eastern Bank raised its holdings in BlackRock by 1.1% in the 2nd quarter. Eastern Bank now owns 39,243 shares of the asset manager’s stock valued at $18,417,000 after acquiring an additional 445 shares during the period. BancorpSouth Bank raised its holdings in BlackRock by 8.6% in the 2nd quarter. BancorpSouth Bank now owns 14,321 shares of the asset manager’s stock valued at $6,721,000 after acquiring an additional 1,131 shares during the period. Heritage Way Advisors LLC raised its holdings in BlackRock by 1.4% in the 2nd quarter. Heritage Way Advisors LLC now owns 5,977 shares of the asset manager’s stock valued at $2,805,000 after acquiring an additional 80 shares during the period. Cumberland Partners Ltd raised its holdings in BlackRock by 365.2% in the 2nd quarter. Cumberland Partners Ltd now owns 8,802 shares of the asset manager’s stock valued at $4,131,000 after acquiring an additional 6,910 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in BlackRock by 2.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 195,491 shares of the asset manager’s stock valued at $87,118,000 after acquiring an additional 5,442 shares during the period. 82.02% of the stock is currently owned by institutional investors.

Shares of NYSE:BLK remained flat at $$486.79 on Tuesday. 351,370 shares of the company’s stock were exchanged, compared to its average volume of 569,449. The company’s fifty day moving average price is $451.32 and its two-hundred day moving average price is $449.34. BlackRock, Inc. has a 1 year low of $360.79 and a 1 year high of $495.39. The firm has a market cap of $75.77 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 1.69 and a beta of 1.54. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 0.77.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, October 15th. The asset manager reported $7.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $6.95 by $0.20. BlackRock had a net margin of 29.31% and a return on equity of 13.00%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the prior year, the business posted $7.52 EPS. The business’s revenue was up 3.2% compared to the same quarter last year. Equities analysts predict that BlackRock, Inc. will post 27.61 earnings per share for the current fiscal year.

Several research analysts have weighed in on the stock. Wells Fargo & Co reissued a “hold” rating on shares of BlackRock in a report on Tuesday, October 15th. Deutsche Bank raised shares of BlackRock from a “hold” rating to a “buy” rating and increased their price target for the company from $465.00 to $543.00 in a report on Wednesday, November 6th. Citigroup lowered their price target on shares of BlackRock from $545.00 to $500.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. BMO Capital Markets assumed coverage on shares of BlackRock in a report on Monday, October 7th. They issued a “market perform” rating and a $547.00 price target on the stock. Finally, Credit Suisse Group set a $567.00 price target on shares of BlackRock and gave the company a “buy” rating in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. BlackRock presently has an average rating of “Buy” and an average price target of $507.10.

In other BlackRock news, CEO Laurence Fink sold 100 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $457.02, for a total transaction of $45,702.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jerkovic Milan 3,000,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. Corporate insiders own 1.42% of the company’s stock.

BlackRock 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.

Further Reading: Bid-Ask Spread

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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