Haverford Trust Co Sells 8,958 Shares of BlackRock, Inc. (NYSE:BLK)

Haverford Trust Co trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 2.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 311,772 shares of the asset manager’s stock after selling 8,958 shares during the period. BlackRock accounts for 2.9% of Haverford Trust Co’s portfolio, making the stock its 5th biggest position. Haverford Trust Co’s holdings in BlackRock were worth $296,031,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BLK. Entropy Technologies LP acquired a new stake in BlackRock in the 1st quarter valued at about $444,000. Koshinski Asset Management Inc. purchased a new stake in BlackRock during the first quarter valued at about $919,000. Eagle Bay Advisors LLC lifted its stake in BlackRock by 15.9% during the first quarter. Eagle Bay Advisors LLC now owns 175 shares of the asset manager’s stock valued at $146,000 after buying an additional 24 shares in the last quarter. D Orazio & Associates Inc. lifted its stake in BlackRock by 12.7% during the first quarter. D Orazio & Associates Inc. now owns 426 shares of the asset manager’s stock valued at $355,000 after buying an additional 48 shares in the last quarter. Finally, Wealthquest Corp purchased a new stake in BlackRock during the first quarter valued at about $201,000. Institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

BLK has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of BlackRock in a research report on Wednesday. They issued a “hold” rating for the company. Wells Fargo & Company increased their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group increased their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Argus increased their price target on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Morgan Stanley increased their price target on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.62.

BlackRock Stock Down 1.7 %

BLK opened at $1,036.09 on Wednesday. BlackRock, Inc. has a fifty-two week low of $658.14 and a fifty-two week high of $1,068.34. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The firm’s fifty day moving average price is $956.14 and its two-hundred day moving average price is $863.66. The company has a market capitalization of $153.48 billion, a P/E ratio of 25.57, a P/E/G ratio of 1.88 and a beta of 1.30.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the previous year, the company earned $10.91 EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, analysts anticipate that BlackRock, Inc. will post 43.16 EPS for the current year.

Insider Activity

In other news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $875.03, for a total value of $10,500,360.00. Following the sale, the director now owns 6,480 shares in the company, valued at approximately $5,670,194.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is owned by corporate insiders.

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.