Janney Montgomery Scott LLC Sells 1,031 Shares of BlackRock, Inc. (NYSE:BLK)

by · The Cerbat Gem

Janney Montgomery Scott LLC reduced its position in BlackRock, Inc. (NYSE:BLK – Free Report) by 1.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 99,639 shares of the asset manager’s stock after selling 1,031 shares during the period. Janney Montgomery Scott LLC’s holdings in BlackRock were worth $94,609,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BLK. Fairscale Capital LLC bought a new position in shares of BlackRock during the 2nd quarter valued at approximately $31,000. Reston Wealth Management LLC bought a new position in BlackRock during the third quarter valued at $37,000. Chilton Capital Management LLC bought a new stake in shares of BlackRock in the 1st quarter worth about $38,000. MFA Wealth Advisors LLC raised its position in shares of BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares in the last quarter. Finally, Olistico Wealth LLC bought a new position in shares of BlackRock in the 2nd quarter valued at about $53,000. 80.69% of the stock is owned by institutional investors.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 64,511 shares of company stock valued at $55,568,552. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BLK. Keefe, Bruyette & Woods upped their price objective on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Argus increased their target price on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Barclays lifted their price target on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Citigroup increased their price objective on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $995.31.

Get Our Latest Research Report on BlackRock

BlackRock Stock Up 0.4 %

Shares of NYSE:BLK opened at $985.08 on Friday. The business’s 50 day moving average is $940.00 and its 200 day moving average is $851.56. The stock has a market cap of $145.92 billion, a P/E ratio of 24.31, a price-to-earnings-growth ratio of 1.76 and a beta of 1.30. BlackRock, Inc. has a 52-week low of $623.77 and a 52-week high of $1,032.00. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

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

About BlackRock

(Free Report)

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.

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