ING Groep NV Lowers Stock Position in BlackRock, Inc. (NYSE:BLK)

ING Groep NV trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 59.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,018 shares of the asset manager’s stock after selling 10,259 shares during the quarter. ING Groep NV’s holdings in BlackRock were worth $6,664,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Fairscale Capital LLC acquired a new stake in shares of BlackRock in the 2nd quarter worth $31,000. Reston Wealth Management LLC purchased a new stake in shares of BlackRock during the third quarter worth about $37,000. MFA Wealth Advisors LLC increased its holdings in shares of BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares in the last quarter. Addison Advisors LLC increased its holdings in shares of BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 22 shares in the last quarter. Finally, Olistico Wealth LLC acquired a new stake in BlackRock in the 2nd quarter worth approximately $53,000. Institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Evercore ISI upped their target price on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Morgan Stanley raised their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Barclays upped their target price on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Finally, StockNews.com started coverage on shares of BlackRock in a research report on Wednesday. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.62.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

BlackRock Trading Down 0.0 %

Shares of NYSE:BLK opened at $1,046.87 on Friday. The firm has a market capitalization of $155.07 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 1.84 and a beta of 1.30. The business’s 50 day moving average price is $965.44 and its 200-day moving average price is $867.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a 1 year low of $708.75 and a 1 year high of $1,068.34.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.91 earnings per share. On average, equities research analysts forecast that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

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.