Smithbridge Asset Management Inc. DE Sells 100 Shares of BlackRock, Inc. (NYSE:BLK)

Smithbridge Asset Management Inc. DE lessened its position in BlackRock, Inc. (NYSE:BLK) by 12.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 697 shares of the asset manager’s stock after selling 100 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in BlackRock were worth $662,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC lifted its position in 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 buying an additional 1,044,962 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of BlackRock by 104,468.9% in the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after acquiring an additional 791,874 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares in the last quarter. Vanguard Group Inc. raised its position in BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after purchasing an additional 292,017 shares during the period. Finally, M&G Plc bought a new stake in BlackRock in the first quarter worth $161,918,000. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

BLK has been the topic of several analyst reports. Argus lifted their price objective on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Evercore ISI boosted their price objective on BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. StockNews.com assumed coverage on BlackRock in a research note on Monday. They set a “hold” rating for the company. The Goldman Sachs Group lifted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Barclays increased 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. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $995.31.

Insider Activity

In related news, Director Pamela Daley sold 1,531 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares in the company, valued at $4,826,802.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. 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 66,042 shares of company stock worth $56,857,777. Corporate insiders own 0.90% of the company’s stock.

BlackRock Trading Up 1.2 %

Shares of NYSE BLK traded up $11.43 during midday trading on Monday, hitting $985.50. 35,771 shares of the company traded hands, compared to its average volume of 571,186. 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 12-month low of $600.26 and a 12-month high of $1,032.00. The stock has a 50-day moving average price of $928.50 and a 200 day moving average price of $844.48. The firm has a market cap of $146.45 billion, a P/E ratio of 24.94, a P/E/G ratio of 1.94 and a beta of 1.30.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $10.91 EPS. As a group, analysts expect that BlackRock, Inc. will post 41.73 earnings per share for the current year.

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.