Bank of Montreal Can Sells 112,637 Shares of BlackRock $BLK

Bank of Montreal Can lowered its position in shares of BlackRock (NYSE:BLK) by 36.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 193,743 shares of the asset manager’s stock after selling 112,637 shares during the period. Bank of Montreal Can owned about 0.13% of BlackRock worth $203,284,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Garde Capital Inc. grew its position in BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after acquiring an additional 18 shares during the last quarter. Whipplewood Advisors LLC grew its position in BlackRock by 107.1% during the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after acquiring an additional 15 shares during the last quarter. Fairway Wealth LLC grew its position in BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC grew its position in shares of BlackRock by 100.0% in the 1st 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 during the last quarter. Finally, Creekmur Asset Management LLC grew its position in shares of BlackRock by 87.5% in the 2nd quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock valued at $32,000 after buying an additional 14 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In related news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the transaction, the director directly owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.98% of the company’s stock.

BlackRock Stock Down 1.1%

Shares of BlackRock stock opened at $1,070.93 on Tuesday. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The stock’s 50-day moving average is $1,135.59 and its 200 day moving average is $1,065.08. The firm has a market cap of $165.84 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 1.90 and a beta of 1.45.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BLK shares. Deutsche Bank Aktiengesellschaft set a $1,320.00 price target on BlackRock and gave the company a “buy” rating in a research report on Wednesday, October 15th. Keefe, Bruyette & Woods upped their price target on BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. TD Cowen upped their price target on BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Jefferies Financial Group upped their price target on BlackRock from $1,196.00 to $1,325.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Finally, Zacks Research lowered BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,299.29.

About BlackRock

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.