Principle Wealth Partners LLC Has $5.86 Million Holdings in BlackRock $BLK

Principle Wealth Partners LLC reduced its holdings in BlackRock (NYSE:BLK) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,585 shares of the asset manager’s stock after selling 144 shares during the quarter. Principle Wealth Partners LLC’s holdings in BlackRock were worth $5,860,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in BlackRock by 73.2% during the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after acquiring an additional 555,098 shares during the period. Vanguard Group Inc. lifted its position in shares of BlackRock by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock worth $13,027,419,000 after acquiring an additional 387,466 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of BlackRock by 32.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock worth $1,071,339,000 after acquiring an additional 279,336 shares during the period. McElhenny Sheffield Capital Management LLC bought a new stake in shares of BlackRock in the 2nd quarter worth approximately $231,000. Finally, Unisphere Establishment lifted its position in shares of BlackRock by 29.2% in the 1st quarter. Unisphere Establishment now owns 839,500 shares of the asset manager’s stock worth $794,570,000 after acquiring an additional 189,500 shares during the period. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Performance

Shares of NYSE:BLK opened at $1,127.42 on Thursday. The business’s fifty day moving average price is $1,140.24 and its two-hundred day moving average price is $1,047.41. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,219.94. The stock has a market capitalization of $174.58 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 1.95 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04.

BlackRock (NYSE:BLK) last announced its quarterly earnings results 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). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The company had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter last year, the company earned $11.46 earnings per share. The business’s revenue was up 25.2% on a year-over-year basis. As a group, analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Morgan Stanley raised their price objective on BlackRock from $1,362.00 to $1,486.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. UBS Group reiterated a “hold” rating on shares of BlackRock in a research report on Tuesday. Keefe, Bruyette & Woods raised their price objective on BlackRock from $1,215.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Loop Capital set a $1,255.00 price objective on BlackRock in a research report on Tuesday. Finally, Bank of America boosted their price target on BlackRock from $1,394.00 to $1,456.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,299.29.

Insider Transactions at BlackRock

In other news, CEO Laurence Fink sold 12,054 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the sale, the chief executive officer owned 251,697 shares in the company, valued at approximately $283,267,354.71. This represents a 4.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the sale, the director owned 61,369 shares in the company, valued at $68,763,964.50. The trade was a 21.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,232 shares of company stock worth $67,055,346. Insiders own 1.98% of the company’s stock.

BlackRock Company 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.