BlackRock $BLK Shares Sold by Savant Capital LLC

Savant Capital LLC lowered its position in shares of BlackRock (NYSE:BLK) by 22.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 7,446 shares of the asset manager’s stock after selling 2,189 shares during the period. Savant Capital LLC’s holdings in BlackRock were worth $7,813,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BLK. Texas Yale Capital Corp. bought a new position in BlackRock in the 2nd quarter worth about $4,542,000. Middleton & Co. Inc. MA grew its holdings in BlackRock by 9.5% in the 2nd quarter. Middleton & Co. Inc. MA now owns 1,151 shares of the asset manager’s stock worth $1,208,000 after buying an additional 100 shares in the last quarter. OneAscent Family Office LLC increased its position in BlackRock by 8.0% in the 2nd quarter. OneAscent Family Office LLC now owns 349 shares of the asset manager’s stock valued at $366,000 after acquiring an additional 26 shares during the period. Soltis Investment Advisors LLC raised its stake in BlackRock by 12.7% during the 2nd quarter. Soltis Investment Advisors LLC now owns 641 shares of the asset manager’s stock valued at $673,000 after acquiring an additional 72 shares in the last quarter. Finally, SouthState Corp raised its stake in BlackRock by 22.6% during the 2nd quarter. SouthState Corp now owns 2,605 shares of the asset manager’s stock valued at $2,733,000 after acquiring an additional 481 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Rachel Lord sold 12,000 shares of the stock in a transaction 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 owned 7,205 shares in the company, valued at $8,394,113.20. This trade represents a 62.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BLK shares. Loop Capital set a $1,255.00 price target on BlackRock in a research note on Tuesday, October 21st. Bank of America upped their price objective on shares of BlackRock from $1,394.00 to $1,456.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Evercore ISI raised their target price on shares of BlackRock from $1,200.00 to $1,230.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Deutsche Bank Aktiengesellschaft set a $1,320.00 price target on shares of BlackRock and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, The Goldman Sachs Group raised their price objective on shares of BlackRock from $1,163.00 to $1,312.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,299.29.

BlackRock Stock Performance

NYSE:BLK opened at $1,081.66 on Friday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average of $1,130.62 and a 200-day moving average of $1,068.02. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The firm has a market cap of $167.50 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48.

BlackRock (NYSE:BLK) last issued its earnings results 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). The business had revenue of $6.51 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $11.46 earnings per share. Analysts forecast 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.