Asset Management One Co. Ltd. Trims Holdings in BlackRock $BLK

Asset Management One Co. Ltd. decreased its stake in shares of BlackRock (NYSE:BLK) by 1.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,332 shares of the asset manager’s stock after selling 1,271 shares during the quarter. Asset Management One Co. Ltd.’s holdings in BlackRock were worth $68,550,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairway Wealth LLC grew its stake in shares of BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC grew its stake in shares of BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 15 shares in the last quarter. Garde Capital Inc. grew its stake in shares of BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after buying an additional 18 shares in the last quarter. Cheviot Value Management LLC acquired a new position in BlackRock during the 1st quarter worth $30,000. Finally, MorganRosel Wealth Management LLC acquired a new position in BlackRock during the 1st quarter worth $31,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 17,142 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 61,369 shares of the company’s stock, valued at $68,763,964.50. This trade represents a 21.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rachel Lord sold 12,000 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the sale, the director owned 7,205 shares in the company, valued at approximately $8,394,113.20. This trade represents a 62.48% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Telsey Advisory Group reissued an “outperform” rating on shares of BlackRock in a research note on Tuesday, July 8th. TD Cowen upped their price objective on BlackRock from $1,301.00 to $1,407.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Bank of America upped their price objective on BlackRock from $1,394.00 to $1,456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Loop Capital set a $1,255.00 price objective on BlackRock in a research report on Tuesday. Finally, The Goldman Sachs Group upped their price objective on BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,299.29.

BlackRock Stock Down 0.4%

BLK opened at $1,125.33 on Friday. The business has a 50 day moving average price of $1,139.52 and a two-hundred day moving average price of $1,049.53. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a market cap of $174.26 billion, a PE ratio of 28.94, a P/E/G ratio of 1.95 and a beta of 1.45. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94.

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