BlackRock Inc. (BLK) Shares Sold by JPMorgan Chase & Co.
JPMorgan Chase & Co. decreased its stake in shares of BlackRock Inc. (NYSE:BLK) by 9.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,061,545 shares of the company’s stock after selling 310,789 shares during the period. JPMorgan Chase & Co. owned about 1.87% of BlackRock worth $1,109,688,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the stock. NEXT Financial Group Inc boosted its position in BlackRock by 22.2% in the third quarter. NEXT Financial Group Inc now owns 275 shares of the company’s stock valued at $100,000 after buying an additional 50 shares during the period. Feltz Wealth PLAN Inc. acquired a new position in BlackRock during the second quarter valued at $126,000. Mycio Wealth Partners LLC boosted its position in BlackRock by 3.3% in the second quarter. Mycio Wealth Partners LLC now owns 379 shares of the company’s stock valued at $130,000 after buying an additional 12 shares during the period. Ropes Wealth Advisors LLC boosted its position in BlackRock by 0.3% in the second quarter. Ropes Wealth Advisors LLC now owns 388 shares of the company’s stock valued at $133,000 after buying an additional 1 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its position in BlackRock by 22.4% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 393 shares of the company’s stock valued at $142,000 after buying an additional 72 shares during the period. 80.70% of the stock is currently owned by institutional investors.
BlackRock Inc. (NYSE:BLK) opened at 368.65 on Tuesday. BlackRock Inc. has a 52 week low of $280.55 and a 52 week high of $380.30. The company has a 50 day moving average price of $356.56 and a 200-day moving average price of $358.44. The firm has a market capitalization of $60.41 billion, a price-to-earnings ratio of 19.37 and a beta of 1.65.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $5.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.98 by $0.16. The business earned $2.84 billion during the quarter, compared to the consensus estimate of $1.01 billion. BlackRock had a return on equity of 11.04% and a net margin of 28.59%. BlackRock’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the company earned $5.00 earnings per share. Equities analysts predict that BlackRock Inc. will post $19.25 earnings per share for the current year.
Several research firms have weighed in on BLK. Deutsche Bank AG lifted their target price on BlackRock from $392.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Keefe, Bruyette & Woods set a $393.00 price target on BlackRock and gave the company a “hold” rating in a research note on Friday, October 14th. Barclays PLC boosted their price target on BlackRock from $375.00 to $378.00 and gave the company an “equal weight” rating in a research note on Thursday, October 13th. Wells Fargo & Co. reissued a “market perform” rating on shares of BlackRock in a research note on Monday, October 10th. Finally, Vetr raised BlackRock from a “hold” rating to a “buy” rating and set a $382.97 price target for the company in a research note on Wednesday, August 10th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. BlackRock has a consensus rating of “Buy” and a consensus target price of $387.80.
In related news, Director William S. Demchak purchased 1,200 shares of the firm’s stock in a transaction on Thursday, October 27th. The stock was purchased at an average cost of $341.11 per share, for a total transaction of $409,332.00. Following the completion of the purchase, the director now directly owns 1,200 shares in the company, valued at $409,332. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeff A. Smith sold 125 shares of the firm’s stock in a transaction that occurred on Wednesday, October 19th. The shares were sold at an average price of $355.22, for a total value of $44,402.50. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
BlackRock Company Profile
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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