CFO4Life Group LLC Trims Stake in BlackRock $BLK

CFO4Life Group LLC lessened its holdings in BlackRock (NYSE:BLK) by 9.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,770 shares of the asset manager’s stock after selling 280 shares during the period. CFO4Life Group LLC’s holdings in BlackRock were worth $2,906,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey increased its stake in shares of BlackRock by 7.9% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 23,167 shares of the asset manager’s stock valued at $24,308,000 after buying an additional 1,693 shares during the period. Allianz SE boosted its holdings in BlackRock by 2.6% in the first quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock valued at $10,435,000 after acquiring an additional 277 shares in the last quarter. Opus Investment Management Inc. bought a new stake in BlackRock in the first quarter valued at $1,420,000. Ally Financial Inc. purchased a new position in BlackRock during the 1st quarter valued at $1,893,000. Finally, Sumitomo Mitsui Financial Group Inc. raised its holdings in BlackRock by 13.5% in the 1st quarter. Sumitomo Mitsui Financial Group Inc. now owns 19,695 shares of the asset manager’s stock worth $18,641,000 after purchasing an additional 2,347 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BLK. The Goldman Sachs Group lifted their target price 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. BNP Paribas Exane upped their target price on BlackRock from $1,160.00 to $1,265.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Citigroup raised their target price on BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Zacks Research lowered BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Finally, Argus increased their price objective on BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a report 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,302.53.

Insider Activity at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of the firm’s 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 transaction of $13,980,480.00. Following the completion of the sale, the director owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.98% of the stock is currently owned by insiders.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,057.41 on Friday. The business has a fifty day moving average price of $1,127.37 and a 200-day moving average price of $1,074.02. 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 company has a market capitalization of $163.74 billion, a PE ratio of 27.19, a PEG ratio of 1.90 and a beta of 1.48. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The firm had revenue of $6.51 billion during 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 business’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $11.46 EPS. As a group, equities analysts expect that BlackRock will post 47.41 EPS 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.