Conning Inc. Has $40.79 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Conning Inc. cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 6.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,957 shares of the asset manager’s stock after selling 3,138 shares during the period. BlackRock accounts for approximately 1.3% of Conning Inc.’s portfolio, making the stock its 10th largest holding. Conning Inc.’s holdings in BlackRock were worth $40,788,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Marino Stram & Associates LLC lifted its holdings in shares of BlackRock by 0.3% during the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after acquiring an additional 10 shares during the last quarter. Onyx Bridge Wealth Group LLC lifted its stake in BlackRock by 3.5% during the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after purchasing an additional 11 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock worth $3,251,000 after purchasing an additional 11 shares in the last quarter. XML Financial LLC increased its position in shares of BlackRock by 2.6% during the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock valued at $372,000 after purchasing an additional 12 shares during the last quarter. Finally, Pine Haven Investment Counsel Inc raised its holdings in shares of BlackRock by 1.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 937 shares of the asset manager’s stock valued at $890,000 after buying an additional 12 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,832,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Laurence Fink sold 29,450 shares of the company’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 transaction of $24,833,712.50. Following 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,511 shares of company stock valued at $55,568,552. 0.90% of the stock is owned by company insiders.

BlackRock Stock Performance

Shares of BLK stock opened at $985.08 on Friday. The firm has a market capitalization of $145.92 billion, a PE ratio of 24.31, a P/E/G ratio of 1.76 and a beta of 1.30. The company has a 50 day moving average price of $940.00 and a 200-day moving average price of $851.56. BlackRock, Inc. has a 52 week low of $623.77 and a 52 week high of $1,032.00. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on BLK. Argus increased their price target on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Barclays upped their price target on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. UBS Group decreased their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, 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. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $995.31.

About BlackRock

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.