Cullen Frost Bankers Inc. Sells 131 Shares of BlackRock $BLK

Cullen Frost Bankers Inc. lessened its holdings in BlackRock (NYSE:BLK) by 1.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,785 shares of the asset manager’s stock after selling 131 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in BlackRock were worth $7,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of BLK. Garde Capital Inc. lifted its position in shares of BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after buying an additional 18 shares during the last quarter. Fairway Wealth LLC lifted its position in shares of BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC lifted its position in shares of BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 15 shares during the last quarter. Mid American Wealth Advisory Group Inc. purchased a new position in shares of BlackRock during the 2nd quarter valued at $34,000. Finally, MorganRosel Wealth Management LLC purchased a new position in shares of BlackRock during the 1st quarter valued at $31,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,127.42 on Thursday. The firm has a market capitalization of $174.58 billion, a P/E ratio of 28.99, a P/E/G ratio of 1.95 and a beta of 1.45. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The stock’s 50-day simple moving average is $1,140.24 and its two-hundred day simple moving average is $1,047.41. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94.

BlackRock (NYSE:BLK) last announced 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 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%.BlackRock’s revenue was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $11.46 earnings per share. As a group, equities analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of recent research reports. BNP Paribas Exane upped their price target on BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. The Goldman Sachs Group increased their price objective on BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Loop Capital set a $1,255.00 price objective on BlackRock in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft set a $1,320.00 price objective on BlackRock and gave the stock a “buy” rating in a report on Wednesday, October 15th. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $1,299.29.

Insiders Place Their Bets

In other news, CEO Laurence Fink sold 12,054 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the transaction, the chief executive officer directly owned 251,697 shares in the company, valued at approximately $283,267,354.71. This represents a 4.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the transaction, the director owned 61,369 shares in the company, valued at $68,763,964.50. This trade represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,232 shares of company stock worth $67,055,346 in the last ninety days. 1.98% of the stock is currently owned by 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.