Forward Management LLC reduced its holdings in BlackRock, Inc. (NYSE:BLK) by 18.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,627 shares of the asset manager’s stock after selling 585 shares during the period. Forward Management LLC’s holdings in BlackRock were worth $1,239,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. World Asset Management Inc lifted its holdings in BlackRock by 1.3% during the 2nd quarter. World Asset Management Inc now owns 7,442 shares of the asset manager’s stock valued at $3,714,000 after buying an additional 99 shares in the last quarter. Intact Investment Management Inc. lifted its holdings in BlackRock by 1.0% during the 2nd quarter. Intact Investment Management Inc. now owns 10,300 shares of the asset manager’s stock valued at $5,144,000 after buying an additional 100 shares in the last quarter. Private Asset Management Inc. lifted its holdings in BlackRock by 2.8% during the 2nd quarter. Private Asset Management Inc. now owns 3,782 shares of the asset manager’s stock valued at $1,887,000 after buying an additional 103 shares in the last quarter. Pillar Pacific Capital Management LLC lifted its holdings in BlackRock by 0.6% during the 2nd quarter. Pillar Pacific Capital Management LLC now owns 17,449 shares of the asset manager’s stock valued at $8,708,000 after buying an additional 106 shares in the last quarter. Finally, Parsons Capital Management Inc. RI lifted its holdings in BlackRock by 0.7% during the 2nd quarter. Parsons Capital Management Inc. RI now owns 15,053 shares of the asset manager’s stock valued at $7,512,000 after buying an additional 108 shares in the last quarter. 82.76% of the stock is owned by institutional investors and hedge funds.

In other BlackRock news, Director William E. Ford purchased 2,000 shares of BlackRock stock in a transaction dated Monday, October 22nd. The stock was acquired at an average price of $395.21 per share, for a total transaction of $790,420.00. Following the acquisition, the director now owns 9,466 shares in the company, valued at approximately $3,741,057.86. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.75% of the company’s stock.

NYSE:BLK opened at $405.42 on Tuesday. BlackRock, Inc. has a one year low of $376.31 and a one year high of $594.52. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.87 and a quick ratio of 3.87. The stock has a market capitalization of $66.06 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.24 and a beta of 1.54.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, October 16th. The asset manager reported $7.52 EPS for the quarter, beating the consensus estimate of $6.93 by $0.59. BlackRock had a net margin of 39.92% and a return on equity of 13.76%. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the previous year, the business posted $5.76 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts forecast that BlackRock, Inc. will post 27.71 earnings per share for the current year.

A number of equities research analysts recently weighed in on the stock. Barclays decreased their price objective on shares of BlackRock from $615.00 to $595.00 and set an “overweight” rating for the company in a report on Tuesday, July 17th. ValuEngine upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Argus decreased their price objective on shares of BlackRock from $620.00 to $535.00 and set a “buy” rating for the company in a report on Wednesday, October 17th. Zacks Investment Research lowered shares of BlackRock from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Finally, Goldman Sachs Group decreased their price objective on shares of BlackRock to $570.00 and set a “buy” rating for the company in a report on Tuesday, July 17th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. BlackRock currently has a consensus rating of “Buy” and an average target price of $569.08.

COPYRIGHT VIOLATION WARNING: “Forward Management LLC Sells 585 Shares of BlackRock, Inc. (BLK)” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another domain, it was stolen and republished in violation of U.S. and international copyright & trademark law. The original version of this report can be accessed at https://www.thecerbatgem.com/2018/11/13/forward-management-llc-sells-585-shares-of-blackrock-inc-blk.html.

BlackRock Company 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.

Featured Article: Institutional Investors

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.