Cobblestone Capital Advisors LLC NY Lowers Holdings in BlackRock $BLK

Cobblestone Capital Advisors LLC NY trimmed its position in shares of BlackRock (NYSE:BLK) by 3.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 858 shares of the asset manager’s stock after selling 28 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in BlackRock were worth $900,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Welch Group LLC boosted its stake in BlackRock by 1.2% during the 2nd quarter. Welch Group LLC now owns 760 shares of the asset manager’s stock valued at $797,000 after purchasing an additional 9 shares during the last quarter. Stanley Laman Group Ltd. increased its holdings in BlackRock by 2.7% in the 2nd quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock worth $357,000 after buying an additional 9 shares in the last quarter. CNB Bank raised its position in BlackRock by 9.6% in the 2nd quarter. CNB Bank now owns 103 shares of the asset manager’s stock worth $108,000 after buying an additional 9 shares during the last quarter. McLean Asset Management Corp lifted its stake in BlackRock by 3.9% during the 2nd quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock valued at $285,000 after acquiring an additional 10 shares during the period. Finally, Trust Co. of Oklahoma lifted its stake in BlackRock by 0.5% during the 2nd quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager’s stock valued at $2,123,000 after acquiring an additional 10 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

BLK has been the subject of several research reports. UBS Group reissued a “hold” rating on shares of BlackRock in a report on Tuesday, October 21st. Wells Fargo & Company decreased their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a research note on Wednesday, July 16th. Jefferies Financial Group raised their price target on BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. JPMorgan Chase & Co. lifted their price objective on BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a report on Thursday, October 2nd. Finally, Citigroup increased their target price on BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a report on Monday, September 29th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $1,299.29.

Insiders Place Their Bets

In other news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the sale, the director directly owned 7,205 shares in the company, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the transaction, the director owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

BlackRock Trading Down 0.6%

BlackRock stock opened at $1,130.06 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The stock has a market cap of $174.99 billion, a P/E ratio of 29.06, a PEG ratio of 1.97 and a beta of 1.45. The firm’s 50 day moving average price is $1,139.45 and its 200-day moving average price is $1,056.13. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The company had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same period last year, the company earned $11.46 EPS. The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. On average, equities analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

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.