2,854 BlackRock $BLK Shares Sold by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC lessened its stake in shares of BlackRock (NYSE:BLK) by 40.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,216 shares of the asset manager’s stock after selling 2,854 shares during the period. Parr Mcknight Wealth Management Group LLC’s holdings in BlackRock were worth $4,462,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Wealth Group LLC Co. grew its holdings in shares of BlackRock by 2.8% in the third quarter. Summit Wealth Group LLC Co. now owns 331 shares of the asset manager’s stock valued at $350,000 after purchasing an additional 9 shares during the period. Stronghold Wealth Management L.L.C. raised its stake in BlackRock by 2.9% during the first quarter. Stronghold Wealth Management L.L.C. now owns 359 shares of the asset manager’s stock worth $345,000 after purchasing an additional 10 shares during the period. Financial Management Professionals Inc. raised its stake in BlackRock by 1.8% during the second quarter. Financial Management Professionals Inc. now owns 564 shares of the asset manager’s stock worth $542,000 after purchasing an additional 10 shares during the period. JNBA Financial Advisors raised its stake in BlackRock by 1.4% during the second quarter. JNBA Financial Advisors now owns 706 shares of the asset manager’s stock worth $679,000 after purchasing an additional 10 shares during the period. Finally, McGlone Suttner Wealth Management Inc. boosted its holdings in BlackRock by 0.8% in the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 1,205 shares of the asset manager’s stock valued at $1,275,000 after purchasing an additional 10 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Down 0.6%

Shares of BLK opened at $1,160.28 on Wednesday. The company’s 50-day moving average price is $1,103.81 and its 200 day moving average price is $1,064.77. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,187.17. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. The firm has a market cap of $179.69 billion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 1.21 and a beta of 1.37.

BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, October 14th. The asset manager reported $15.93 earnings per share for the quarter, topping the consensus estimate of $14.32 by $1.61. BlackRock had a net margin of 24.22% and a return on equity of 16.08%. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same quarter last year, the firm posted $8.43 earnings per share. BlackRock’s revenue was up 19.1% compared to the same quarter last year. On average, sell-side analysts forecast that BlackRock will post 57.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BLK. TD Cowen raised shares of BlackRock from a “hold” rating to a “buy” rating and increased their price target for the company from $1,212.00 to $1,405.00 in a research note on Tuesday, October 20th. BNP Paribas Exane raised their price target on shares of BlackRock from $1,370.00 to $1,430.00 and gave the stock an “outperform” rating in a report on Thursday, October 15th. Zacks Research lowered shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Morgan Stanley upped their price objective on BlackRock from $1,468.00 to $1,531.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Finally, UBS Group increased their price objective on BlackRock from $1,277.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,342.25.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock launched an actively managed iShares ETF focused on robotics and related technologies, adding to its product lineup and giving it a potential avenue to attract assets in a growing investment theme. BlackRock Could Be 13% Overvalued As Robotics ETF Launch Tests Valuation
• Positive Sentiment: BlackRock and Premialab are integrating quantitative-strategy data and analytics into Aladdin, potentially strengthening the platform’s usefulness to institutional clients. BlackRock Brings Quantitative Strategy Analytics Into Aladdin
• Neutral Sentiment: A valuation analysis suggested BLK could be about 13% overvalued, tempering the positive product-launch news. This is an analyst/model assessment rather than a company announcement. BlackRock Could Be 13% Overvalued As Robotics ETF Launch Tests Valuation
• Negative Sentiment: Crypto-fund withdrawals are the clearest near-term concern: BlackRock’s iShares Bitcoin Trust (IBIT) saw about $405 million leave on Monday, while U.S. spot Bitcoin ETFs recorded roughly $399 million in net outflows. Separate reports also point to substantial sales of Bitcoin and Ethereum holdings. Continued redemptions could weigh on crypto-related assets under management and investor sentiment toward BLK. BlackRock’s IBIT Sees Biggest Bitcoin ETF Outflows Since June

BlackRock Company Profile

BlackRock, Inc is a global investment management and financial technology company headquartered in New York. Founded in 1988, the company provides investment, technology and advisory services to institutional and individual investors, governments, foundations and other clients worldwide.

BlackRock offers a broad range of investment products and strategies, including equity and fixed-income funds, index funds, exchange-traded funds through its iShares business, multi-asset portfolios, cash-management products and alternative investments.