Busey Bank Trims Stake in BlackRock, Inc. (NYSE:BLK)

by · The Cerbat Gem

Busey Bank lessened its stake in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 3.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,587 shares of the asset manager’s stock after selling 80 shares during the period. Busey Bank’s holdings in BlackRock were worth $2,456,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Redmont Wealth Advisors LLC purchased a new stake in BlackRock in the 1st quarter worth approximately $27,000. Fairscale Capital LLC purchased a new stake in shares of BlackRock in the second quarter worth $31,000. Chilton Capital Management LLC purchased a new position in shares of BlackRock during the 1st quarter valued at $38,000. MFA Wealth Advisors LLC boosted its holdings in BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after buying an additional 20 shares during the period. Finally, Olistico Wealth LLC purchased a new stake in BlackRock in the 2nd quarter worth $53,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BlackRock news, Director Mark Wiedman sold 11,061 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $852.95, for a total value of $9,434,479.95. Following the sale, the director now owns 6,480 shares in the company, valued at $5,527,116. This trade represents 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 BlackRock stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This trade represents 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 worth $56,857,777 over the last quarter. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BLK shares. StockNews.com began coverage on BlackRock in a research report on Sunday, October 20th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft upped their price target on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday. Morgan Stanley raised their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group boosted their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $995.31.

Get Our Latest Stock Report on BLK

BlackRock Stock Down 0.4 %

Shares of NYSE:BLK opened at $984.32 on Friday. The company has a 50-day moving average price of $924.23 and a 200 day moving average price of $841.60. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $1,032.00. The company has a market cap of $146.27 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 1.94 and a beta of 1.30.

BlackRock (NYSE:BLK – Get Free Report) last announced 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. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.91 EPS. As a group, equities research analysts predict that BlackRock, Inc. will post 41.73 earnings per share for the current year.

BlackRock Company Profile

(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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