Fairfield Financial Advisors LTD Sells 93 Shares of BlackRock, Inc. (NYSE:BLK)

Fairfield Financial Advisors LTD reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 71.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 38 shares of the asset manager’s stock after selling 93 shares during the quarter. Fairfield Financial Advisors LTD’s holdings in BlackRock were worth $36,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in shares of BlackRock by 60.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 29,783 shares of the asset manager’s stock valued at $24,830,000 after buying an additional 11,243 shares in the last quarter. FORVIS Wealth Advisors LLC lifted its stake in shares of BlackRock by 22.7% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 736 shares of the asset manager’s stock valued at $614,000 after purchasing an additional 136 shares during the last quarter. Norden Group LLC boosted its holdings in shares of BlackRock by 38.5% in the 1st quarter. Norden Group LLC now owns 648 shares of the asset manager’s stock worth $540,000 after purchasing an additional 180 shares during the period. Diversify Advisory Services LLC bought a new position in shares of BlackRock during the 1st quarter valued at approximately $508,000. Finally, Prosperity Consulting Group LLC increased its position in shares of BlackRock by 25.3% during the 1st quarter. Prosperity Consulting Group LLC now owns 797 shares of the asset manager’s stock valued at $664,000 after purchasing an additional 161 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Performance

Shares of BlackRock stock opened at $980.60 on Friday. BlackRock, Inc. has a 12 month low of $604.41 and a 12 month high of $1,032.00. The stock’s fifty day moving average price is $937.94 and its 200-day moving average price is $849.30. The firm has a market cap of $145.25 billion, a P/E ratio of 24.20, a P/E/G ratio of 1.94 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share 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 analysts’ expectations of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company’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. On average, equities research analysts expect that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on BLK. 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. The Goldman Sachs Group upped their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. TD Cowen raised their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. upped their target price on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company raised their price target on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $995.31.

Insider Buying and Selling at BlackRock

In other news, CEO Laurence Fink sold 29,450 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, 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 transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the sale, the director now 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,511 shares of company stock valued at $55,568,552. 0.90% of the stock is currently owned by corporate insiders.

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.