Gold Investment Management Ltd. Reduces Holdings in BlackRock, Inc. (NYSE:BLK)

Gold Investment Management Ltd. reduced its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,170 shares of the asset manager’s stock after selling 24 shares during the quarter. Gold Investment Management Ltd.’s holdings in BlackRock were worth $2,057,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Marino Stram & Associates LLC grew its holdings in shares of BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after buying an additional 10 shares in the last quarter. Onyx Bridge Wealth Group LLC grew its holdings in shares of BlackRock by 3.5% during the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after buying an additional 11 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of BlackRock by 0.3% during the third quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock worth $3,251,000 after buying an additional 11 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of BlackRock by 0.4% during the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after buying an additional 11 shares in the last quarter. Finally, XML Financial LLC grew its holdings in shares of BlackRock by 2.6% during the second quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after buying an additional 12 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Trading Up 0.6 %

NYSE BLK opened at $1,036.06 on Friday. The company’s fifty day simple moving average is $947.54 and its 200-day simple moving average is $857.04. BlackRock, Inc. has a 52 week low of $648.43 and a 52 week high of $1,057.51. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market cap of $153.47 billion, a P/E ratio of 25.57, a PEG ratio of 1.78 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the previous year, the company posted $10.91 earnings per share. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities research analysts predict that BlackRock, Inc. will post 42.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BLK shares. Wells Fargo & Company boosted their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. StockNews.com started coverage on shares of BlackRock in a report on Tuesday. They issued a “hold” rating for the company. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. The Goldman Sachs Group boosted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,004.54.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 35,061 shares of company stock valued at $30,734,840. Corporate insiders own 0.90% of the company’s stock.

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.