Gladstone Institutional Advisory LLC Cuts Stake in BlackRock, Inc. (NYSE:BLK)

Gladstone Institutional Advisory LLC reduced its stake in BlackRock, Inc. (NYSE:BLK) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,607 shares of the asset manager’s stock after selling 14 shares during the period. Gladstone Institutional Advisory LLC’s holdings in BlackRock were worth $2,475,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of BLK. Allspring Global Investments Holdings LLC grew its stake in shares of BlackRock by 60.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 29,783 shares of the asset manager’s stock worth $24,830,000 after acquiring an additional 11,243 shares during the last quarter. Norden Group LLC lifted its holdings in shares of BlackRock by 38.5% during the first quarter. Norden Group LLC now owns 648 shares of the asset manager’s stock valued at $540,000 after purchasing an additional 180 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of BlackRock during the first quarter valued at $508,000. 1834 Investment Advisors Co. lifted its holdings in shares of BlackRock by 6.6% during the first quarter. 1834 Investment Advisors Co. now owns 728 shares of the asset manager’s stock valued at $607,000 after purchasing an additional 45 shares in the last quarter. Finally, Resonant Capital Advisors LLC lifted its holdings in shares of BlackRock by 8.0% during the first quarter. Resonant Capital Advisors LLC now owns 678 shares of the asset manager’s stock valued at $565,000 after purchasing an additional 50 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BlackRock

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

BlackRock Stock Up 0.5 %

Shares of BLK opened at $985.71 on Friday. The stock has a market capitalization of $146.01 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 1.76 and a beta of 1.30. BlackRock, Inc. has a 1 year low of $623.77 and a 1 year high of $1,032.00. The business’s 50 day simple moving average is $940.00 and its 200-day simple moving average is $850.84. 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 for the quarter, beating 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 for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the prior year, the firm posted $10.91 EPS. BlackRock’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, equities analysts expect that BlackRock, Inc. will post 42.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Evercore ISI upped their price target on BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup increased 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. UBS Group lowered their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. StockNews.com started coverage on BlackRock in a report on Monday, October 28th. They issued a “hold” rating on the stock. Finally, Barclays increased 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 issued a buy rating to the company’s stock. According to data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $995.31.

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.