Los Angeles Capital Management LLC Lowers Stake in BlackRock, Inc. (NYSE:BLK)

Los Angeles Capital Management LLC reduced its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 17.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,906 shares of the asset manager’s stock after selling 1,236 shares during the period. Los Angeles Capital Management LLC’s holdings in BlackRock were worth $5,608,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Axxcess Wealth Management LLC lifted its stake in shares of BlackRock by 35.8% in the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after acquiring an additional 1,248 shares during the period. Cetera Investment Advisers lifted its stake in shares of BlackRock by 219.5% in the 1st quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock worth $36,737,000 after acquiring an additional 30,274 shares during the period. M&G Plc acquired a new stake in shares of BlackRock in the 1st quarter worth $161,918,000. GAMMA Investing LLC lifted its stake in shares of BlackRock by 62.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,291 shares of the asset manager’s stock worth $1,804,000 after acquiring an additional 884 shares during the period. Finally, CreativeOne Wealth LLC acquired a new stake in shares of BlackRock in the 1st quarter worth $759,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.90% of the company’s stock.

BlackRock Price Performance

BLK opened at $1,053.84 on Tuesday. 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, Inc. has a 52-week low of $658.14 and a 52-week high of $1,068.34. The company has a 50 day moving average of $953.10 and a two-hundred day moving average of $861.57. The company has a market cap of $156.11 billion, a P/E ratio of 26.01, a P/E/G ratio of 1.86 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its quarterly earnings data 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. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the previous year, the firm earned $10.91 earnings per share. BlackRock’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, analysts expect that BlackRock, Inc. will post 43.16 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on BLK. Citigroup raised their target price on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Barclays raised their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company raised their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. StockNews.com assumed coverage on shares of BlackRock in a research note on Tuesday, November 5th. They issued a “hold” rating for the company. Finally, Keefe, Bruyette & Woods lifted their target price on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,019.62.

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.