Interchange Capital Partners LLC Sells 14 Shares of BlackRock, Inc. (NYSE:BLK)

Interchange Capital Partners LLC trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 3.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 460 shares of the asset manager’s stock after selling 14 shares during the period. Interchange Capital Partners LLC’s holdings in BlackRock were worth $438,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC boosted its holdings in shares of BlackRock by 89,389.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after acquiring an additional 1,044,962 shares in the last quarter. International Assets Investment Management LLC boosted its stake in BlackRock by 104,468.9% in the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock valued at $7,526,120,000 after acquiring an additional 791,874 shares during the last quarter. Capital Research Global Investors grew its holdings in BlackRock by 11.1% during the 1st 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. raised its position in shares of BlackRock by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after acquiring an additional 292,017 shares during the last quarter. Finally, M&G Plc bought a new position in shares of BlackRock in the 1st quarter worth $161,918,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on BLK. Deutsche Bank Aktiengesellschaft increased their target price on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Barclays lifted their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods upped their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. TD Cowen raised their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Argus boosted their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $995.31.

BlackRock Stock Performance

NYSE:BLK traded up $6.73 during mid-day trading on Friday, hitting $987.76. The stock had a trading volume of 161,753 shares, compared to its average volume of 568,597. The company’s 50 day simple moving average is $937.94 and its 200 day simple moving average is $849.30. The stock has a market cap of $146.32 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 1.76 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a twelve month low of $623.77 and a twelve month high of $1,032.00.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the previous year, the company posted $10.91 EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, equities research analysts forecast that BlackRock, Inc. will post 42.94 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Mark Wiedman sold 11,061 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,527,116. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,511 shares of company stock valued at $55,568,552. Company insiders own 0.90% of the company’s stock.

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.