Rogco LP Trims Position in BlackRock, Inc. (NYSE:BLK)

Rogco LP reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 3.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,369 shares of the asset manager’s stock after selling 97 shares during the quarter. BlackRock makes up 0.9% of Rogco LP’s portfolio, making the stock its 21st biggest holding. Rogco LP’s holdings in BlackRock were worth $2,249,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC boosted its stake in shares of BlackRock by 35.8% in the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after purchasing an additional 1,248 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in BlackRock by 3.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock worth $322,810,000 after acquiring an additional 14,477 shares in the last quarter. Oak Harvest Investment Services purchased a new stake in shares of BlackRock in the 1st quarter valued at approximately $6,735,000. Cetera Investment Advisers raised its holdings in shares of BlackRock by 219.5% in the 1st quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock valued at $36,737,000 after purchasing an additional 30,274 shares in the last quarter. Finally, M&G Plc purchased a new stake in shares of BlackRock during the 1st quarter worth $161,918,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,042 shares of company stock valued at $56,857,777 in the last ninety days. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BLK. JPMorgan Chase & Co. raised their price target on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday. Keefe, Bruyette & Woods increased their target price on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Morgan Stanley upped their price target on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. StockNews.com assumed coverage on shares of BlackRock in a research report on Sunday. They issued a “hold” rating on the stock. Finally, Barclays upped their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $995.31.

BlackRock Price Performance

BLK stock traded down $1.48 during midday trading on Thursday, hitting $986.68. 114,884 shares of the stock were exchanged, compared to its average volume of 573,294. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The stock has a market cap of $146.62 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $1,032.00. The stock’s 50-day moving average price is $924.23 and its 200-day moving average price is $841.60.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. BlackRock’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the business posted $10.91 earnings per share. Research analysts predict that BlackRock, Inc. will post 41.73 earnings per share for the current year.

BlackRock 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.