Cascade Financial Partners LLC Has $344,000 Stock Holdings in BlackRock $BLK

Cascade Financial Partners LLC lowered its stake in BlackRock (NYSE:BLK) by 15.5% during the second quarter, Holdings Channel.com reports. The fund owned 328 shares of the asset manager’s stock after selling 60 shares during the period. Cascade Financial Partners LLC’s holdings in BlackRock were worth $344,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BLK. Royal Bank of Canada raised its stake in shares of BlackRock by 73.2% during the 1st 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 in the last quarter. Vanguard Group Inc. lifted its stake 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 purchasing an additional 387,466 shares during the last quarter. Goldman Sachs Group Inc. increased its position in BlackRock by 32.8% during the first 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 last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in BlackRock in the second quarter valued at approximately $231,000. Finally, Unisphere Establishment raised its stake in 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 buying an additional 189,500 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BLK has been the topic of a number of recent analyst reports. Evercore ISI boosted their target price on BlackRock from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Morgan Stanley lifted their price objective on shares of BlackRock from $1,362.00 to $1,486.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. The Goldman Sachs Group increased 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 report on Friday, October 3rd. Argus raised their target price on shares of BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, Zacks Research lowered shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,303.41.

Insider Buying and Selling

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the firm’s 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.98% of the stock is currently owned by company insiders.

BlackRock Price Performance

Shares of BlackRock stock opened at $1,083.98 on Wednesday. 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 has a market capitalization of $167.86 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The company has a 50-day simple moving average of $1,129.11 and a two-hundred day simple moving average of $1,072.92.

BlackRock (NYSE:BLK) last announced its 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). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same quarter in the previous year, the company earned $11.46 EPS. The business’s revenue for the quarter was up 25.2% on a year-over-year basis. Analysts forecast that BlackRock will post 47.41 EPS for the current year.

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.