Prudential Financial Inc. lowered its position in shares of BlackRock Inc. (NYSE:BLK) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,711 shares of the company’s stock after selling 2,987 shares during the period. Prudential Financial Inc.’s holdings in BlackRock were worth $78,549,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. NEXT Financial Group Inc raised its position in BlackRock by 22.2% in the third quarter. NEXT Financial Group Inc now owns 275 shares of the company’s stock worth $100,000 after buying an additional 50 shares during the last quarter. Feltz Wealth PLAN Inc. purchased a new position in BlackRock during the second quarter worth $126,000. Mycio Wealth Partners LLC raised its position in BlackRock by 3.3% in the second quarter. Mycio Wealth Partners LLC now owns 379 shares of the company’s stock worth $130,000 after buying an additional 12 shares during the last quarter. Ropes Wealth Advisors LLC raised its position in BlackRock by 0.3% in the second quarter. Ropes Wealth Advisors LLC now owns 388 shares of the company’s stock worth $133,000 after buying an additional 1 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised 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 worth $142,000 after buying an additional 72 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

BlackRock Inc. (NYSE:BLK) opened at 368.55 on Wednesday. The stock has a market cap of $60.39 billion, a PE ratio of 19.36 and a beta of 1.65. BlackRock Inc. has a 1-year low of $280.55 and a 1-year high of $380.30. The firm has a 50-day moving average of $356.56 and a 200-day moving average of $358.44.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, October 18th. The company reported $5.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.98 by $0.16. BlackRock had a net margin of 28.59% and a return on equity of 11.04%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the business earned $5.00 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis. Analysts expect that BlackRock Inc. will post $19.25 EPS for the current fiscal year.

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A number of research analysts recently weighed in on the stock. Deutsche Bank AG raised their price target on shares of BlackRock from $392.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Keefe, Bruyette & Woods set a $393.00 price objective on shares of BlackRock and gave the stock a “hold” rating in a research report on Friday, October 14th. Barclays PLC lifted their price objective on shares of BlackRock from $375.00 to $378.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 13th. Wells Fargo & Co. reaffirmed a “market perform” rating on shares of BlackRock in a research report on Monday, October 10th. Finally, Vetr raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $382.97 price objective on the stock in a research report on Wednesday, August 10th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $387.80.

In other BlackRock news, Director William S. Demchak acquired 1,200 shares of the stock in a transaction dated Thursday, October 27th. The shares were purchased at an average price of $341.11 per share, for a total transaction of $409,332.00. Following the purchase, the director now directly owns 1,200 shares of the company’s stock, valued at $409,332. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeff A. Smith sold 125 shares of the stock in a transaction that occurred on Wednesday, October 19th. The stock was sold at an average price of $355.22, for a total transaction of $44,402.50. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.

About BlackRock

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.

5 Day Chart for NYSE:BLK

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