Bay Colony Advisory Group Inc d b a Bay Colony Advisors Reduces Stock Position in BlackRock $BLK

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lowered its position in shares of BlackRock (NYSE:BLK) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,121 shares of the asset manager’s stock after selling 13 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in BlackRock were worth $1,176,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Welch Group LLC boosted its position in BlackRock by 1.2% during the second quarter. Welch Group LLC now owns 760 shares of the asset manager’s stock worth $797,000 after acquiring an additional 9 shares during the last quarter. Stanley Laman Group Ltd. boosted its position in BlackRock by 2.7% during the second quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock worth $357,000 after acquiring an additional 9 shares during the last quarter. CNB Bank boosted its position in BlackRock by 9.6% during the second quarter. CNB Bank now owns 103 shares of the asset manager’s stock worth $108,000 after acquiring an additional 9 shares during the last quarter. McLean Asset Management Corp boosted its position in BlackRock by 3.9% during the second quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock worth $285,000 after acquiring an additional 10 shares during the last quarter. Finally, Trust Co. of Oklahoma boosted its position in BlackRock by 0.5% during the second quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager’s stock worth $2,123,000 after acquiring an additional 10 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

NYSE:BLK opened at $1,096.92 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The firm has a 50-day moving average of $1,138.25 and a two-hundred day moving average of $1,059.80. The stock has a market cap of $169.86 billion, a P/E ratio of 28.21, a PEG ratio of 1.90 and a beta of 1.45. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The business’s quarterly revenue was up 25.2% on a year-over-year basis. During the same period in the previous year, the company earned $11.46 earnings per share. On average, research analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

Insider Activity at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of the stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the transaction, the director owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Cowen reaffirmed a “buy” rating on shares of BlackRock in a research note on Wednesday, October 15th. Evercore ISI increased their price target on shares of BlackRock from $1,200.00 to $1,230.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Wells Fargo & Company cut their price target on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. UBS Group reaffirmed a “hold” rating on shares of BlackRock in a research note on Tuesday, October 21st. Finally, Morgan Stanley increased their price target on shares of BlackRock from $1,362.00 to $1,486.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Seventeen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $1,299.29.

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.