Coastline Trust Co reduced its stake in BlackRock, Inc. (NYSE:BLK) by 21.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,990 shares of the asset manager’s stock after selling 535 shares during the quarter. Coastline Trust Co’s holdings in BlackRock were worth $1,121,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Larson Financial Group LLC grew its holdings in BlackRock by 228.6% in the 2nd quarter. Larson Financial Group LLC now owns 46 shares of the asset manager’s stock valued at $25,000 after buying an additional 32 shares in the last quarter. Hall Laurie J Trustee acquired a new position in shares of BlackRock in the 3rd quarter valued at $28,000. Watson Rebecca acquired a new position in shares of BlackRock in the 2nd quarter valued at $30,000. Gradient Investments LLC lifted its stake in shares of BlackRock by 40.4% in the 3rd quarter. Gradient Investments LLC now owns 73 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 21 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC acquired a new position in shares of BlackRock in the 2nd quarter valued at $44,000. Institutional investors own 79.21% of the company’s stock.

BLK opened at $657.38 on Friday. The stock’s 50-day moving average price is $573.97 and its 200 day moving average price is $541.06. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66. BlackRock, Inc. has a 12-month low of $323.98 and a 12-month high of $659.57. The firm has a market cap of $100.24 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 2.67 and a beta of 1.23.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Sunday, October 18th. The asset manager reported $9.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $7.45 by $1.77. BlackRock had a return on equity of 14.17% and a net margin of 29.55%. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the business earned $7.15 EPS. BlackRock’s revenue was up 18.3% on a year-over-year basis. On average, research analysts forecast that BlackRock, Inc. will post 30.41 earnings per share for the current year.

In other BlackRock news, CEO Laurence Fink sold 41,706 shares of the company’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $580.29, for a total transaction of $24,201,574.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director J. Richard Kushel sold 2,182 shares of the company’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $574.39, for a total value of $1,253,318.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,248 shares of company stock worth $27,405,326. 1.42% of the stock is owned by company insiders.

BLK has been the topic of several recent analyst reports. Bank of America upped their price target on BlackRock from $633.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Argus upped their price target on BlackRock from $530.00 to $640.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Wells Fargo & Company reaffirmed a “buy” rating on shares of BlackRock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on BlackRock from $661.00 to $685.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays increased their target price on BlackRock from $625.00 to $700.00 in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $635.42.

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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