Texas Bank & Trust Co Sells 252 Shares of BlackRock $BLK

Texas Bank & Trust Co cut its position in BlackRock (NYSE:BLK) by 16.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,300 shares of the asset manager’s stock after selling 252 shares during the quarter. Texas Bank & Trust Co’s holdings in BlackRock were worth $1,364,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada increased its stake in shares of BlackRock by 73.2% in the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock worth $1,243,059,000 after purchasing an additional 555,098 shares during the period. Vanguard Group Inc. grew its holdings in BlackRock by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock valued at $13,027,419,000 after buying an additional 387,466 shares during the last quarter. Goldman Sachs Group Inc. increased its position in BlackRock by 32.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock worth $1,071,339,000 after buying an additional 279,336 shares during the period. McElhenny Sheffield Capital Management LLC acquired a new position in shares of BlackRock during the second quarter worth approximately $231,000. Finally, Unisphere Establishment boosted its position in shares of BlackRock by 29.2% in the first quarter. Unisphere Establishment now owns 839,500 shares of the asset manager’s stock valued at $794,570,000 after acquiring an additional 189,500 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity

In other news, Director Rachel Lord sold 12,000 shares of the 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 value of $13,980,480.00. Following the completion of the transaction, the director directly owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Telsey Advisory Group reaffirmed an “outperform” rating on shares of BlackRock in a research report on Tuesday, July 8th. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. BNP Paribas Exane boosted their price objective on shares of BlackRock from $1,160.00 to $1,265.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. TD Cowen increased their target price on shares of BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, BMO Capital Markets lifted their target price on BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $1,299.29.

BlackRock Price Performance

NYSE:BLK opened at $1,081.62 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The company has a 50-day moving average of $1,136.93 and a 200-day moving average of $1,063.71. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94. The company has a market capitalization of $167.49 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 1.90 and a beta of 1.45.

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 business’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same period last year, the company earned $11.46 EPS. As a group, equities research analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

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.