BlackRock $BLK Shares Sold by Van Cleef Asset Management Inc

Van Cleef Asset Management Inc lowered its stake in shares of BlackRock (NYSE:BLK) by 9.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,429 shares of the asset manager’s stock after selling 349 shares during the quarter. Van Cleef Asset Management Inc’s holdings in BlackRock were worth $3,598,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC boosted its holdings in shares of BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 15 shares during the period. Garde Capital Inc. lifted its position in BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 18 shares during the last quarter. Cheviot Value Management LLC acquired a new position in BlackRock during the 1st quarter valued at about $30,000. Whipplewood Advisors LLC boosted its stake in BlackRock by 107.1% during the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 15 shares during the period. Finally, Creekmur Asset Management LLC grew its position in BlackRock by 87.5% in the 2nd quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock worth $32,000 after purchasing an additional 14 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

Shares of BlackRock stock opened at $1,081.66 on Friday. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94. 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 stock has a market cap of $167.50 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48. The company’s 50-day moving average price is $1,130.62 and its two-hundred day moving average price is $1,068.02.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter last year, the business posted $11.46 EPS. The business’s revenue for the quarter was up 25.2% on a year-over-year basis. As a group, sell-side analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BLK. JPMorgan Chase & Co. boosted their price objective on BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. Zacks Research lowered BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Evercore ISI increased their price target on BlackRock from $1,200.00 to $1,230.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Weiss Ratings restated a “buy (b)” rating on shares of BlackRock in a research note on Thursday, October 30th. Finally, Jefferies Financial Group increased their target price on shares of BlackRock from $1,196.00 to $1,325.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,299.29.

Insider Activity

In other 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 transaction of $13,980,480.00. Following the completion of the sale, the director owned 7,205 shares in the company, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.