BlackRock $BLK Holdings Cut by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC lowered its holdings in BlackRock (NYSE:BLK) by 63.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,233 shares of the asset manager’s stock after selling 2,098 shares during the period. Transcend Capital Advisors LLC’s holdings in BlackRock were worth $1,294,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BLK. Brighton Jones LLC raised its holdings in shares of BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after buying an additional 296 shares during the last quarter. Bison Wealth LLC raised its holdings in shares of BlackRock by 1.6% during the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock valued at $1,078,000 after buying an additional 17 shares during the last quarter. Nemes Rush Group LLC bought a new stake in shares of BlackRock during the first quarter valued at approximately $208,000. Allspring Global Investments Holdings LLC raised its holdings in shares of BlackRock by 1.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 33,152 shares of the asset manager’s stock valued at $31,298,000 after buying an additional 573 shares during the last quarter. Finally, Sovran Advisors LLC raised its holdings in shares of BlackRock by 4.8% during the first quarter. Sovran Advisors LLC now owns 741 shares of the asset manager’s stock valued at $649,000 after buying an additional 34 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

NYSE BLK opened at $1,130.06 on Tuesday. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,219.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The firm has a market capitalization of $174.99 billion, a PE ratio of 29.06, a P/E/G ratio of 1.97 and a beta of 1.45. The company’s 50 day simple moving average is $1,139.45 and its 200 day simple moving average is $1,056.13.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.78 by ($0.23). The business had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.22 billion. BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The company’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter last year, the firm posted $11.46 EPS. As a group, equities research analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their price target on BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a report on Monday, September 29th. Evercore ISI lifted their price target on BlackRock from $1,200.00 to $1,230.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Morgan Stanley lifted their price target on BlackRock from $1,362.00 to $1,486.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. UBS Group reaffirmed a “hold” rating on shares of BlackRock in a report on Tuesday, October 21st. Finally, Argus raised their price objective on shares of BlackRock from $1,165.00 to $1,330.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,299.29.

Insider Activity at BlackRock

In other BlackRock news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the transaction, the director owned 7,205 shares in the company, valued at approximately $8,394,113.20. The trade was a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the transaction, the director owned 61,369 shares in the company, valued at approximately $68,763,964.50. This trade represents a 21.83% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

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.