BlackRock $BLK Shares Sold by Spire Wealth Management

Spire Wealth Management lowered its position in shares of BlackRock (NYSE:BLK) by 16.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,394 shares of the asset manager’s stock after selling 267 shares during the period. Spire Wealth Management’s holdings in BlackRock were worth $1,463,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. World Investment Advisors increased its position in shares of BlackRock by 13.6% during the second quarter. World Investment Advisors now owns 4,492 shares of the asset manager’s stock worth $4,713,000 after purchasing an additional 537 shares in the last quarter. Daymark Wealth Partners LLC increased its position in BlackRock by 0.4% in the 2nd quarter. Daymark Wealth Partners LLC now owns 9,207 shares of the asset manager’s stock valued at $9,660,000 after acquiring an additional 33 shares during the period. Wealth Management Associates Inc. acquired a new position in BlackRock in the 2nd quarter valued at about $200,000. Bank of Jackson Hole Trust increased its position in BlackRock by 5.0% in the 2nd quarter. Bank of Jackson Hole Trust now owns 2,201 shares of the asset manager’s stock valued at $2,309,000 after acquiring an additional 104 shares during the period. Finally, Biltmore Family Office LLC increased its position in BlackRock by 4.3% in the 2nd quarter. Biltmore Family Office LLC now owns 806 shares of the asset manager’s stock valued at $846,000 after acquiring an additional 33 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley boosted their price target on BlackRock from $1,362.00 to $1,486.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft set a $1,320.00 price target on BlackRock and gave the company a “buy” rating in a research report on Wednesday, October 15th. Bank of America boosted their price target on BlackRock from $1,394.00 to $1,456.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. BMO Capital Markets boosted their price target on BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods boosted their price target on BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,299.29.

BlackRock Price Performance

Shares of BLK opened at $1,081.62 on Friday. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The stock’s 50 day moving average is $1,136.93 and its two-hundred day moving average is $1,061.13. The firm has a market capitalization of $167.49 billion, a PE ratio of 27.81, a P/E/G ratio of 1.90 and a beta of 1.45. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The business had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. During the same period in the prior year, the firm posted $11.46 EPS. BlackRock’s revenue for the quarter was up 25.2% compared to the same quarter last year. Research analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

Insider Activity at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the sale, the director owned 7,205 shares of the company’s stock, valued at $8,394,113.20. The trade was a 62.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is owned by company 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.