KBC Group NV Sells 536 Shares of BlackRock $BLK

KBC Group NV cut its position in BlackRock (NYSE:BLK) by 4.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,662 shares of the asset manager’s stock after selling 536 shares during the quarter. KBC Group NV’s holdings in BlackRock were worth $13,286,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Turn8 Private Wealth Inc. boosted its position in shares of BlackRock by 5.0% in the second quarter. Turn8 Private Wealth Inc. now owns 3,582 shares of the asset manager’s stock valued at $3,893,000 after acquiring an additional 170 shares during the period. Verus Capital Partners LLC acquired a new position in BlackRock in the second quarter valued at about $206,000. Weil Company Inc. grew its stake in BlackRock by 8.5% during the second quarter. Weil Company Inc. now owns 2,251 shares of the asset manager’s stock worth $2,362,000 after buying an additional 177 shares in the last quarter. Nwam LLC increased its holdings in BlackRock by 68.6% in the 2nd quarter. Nwam LLC now owns 978 shares of the asset manager’s stock valued at $1,090,000 after buying an additional 398 shares during the period. Finally, Montag A & Associates Inc. lifted its holdings in shares of BlackRock by 1.3% during the 2nd quarter. Montag A & Associates Inc. now owns 752 shares of the asset manager’s stock worth $789,000 after acquiring an additional 10 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Trading Down 1.1%

NYSE BLK opened at $1,057.41 on Friday. The stock has a market capitalization of $163.74 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.90 and a beta of 1.48. The business has a 50 day simple moving average of $1,127.37 and a 200 day simple moving average of $1,074.02. 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 has a one year low of $773.74 and a one year high of $1,219.94.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing the consensus estimate of $11.78 by ($0.23). The company had revenue of $6.51 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $11.46 EPS. Research analysts expect that BlackRock will post 47.41 earnings per share for the current year.

Insider Activity

In related news, Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the completion of the sale, the director directly owned 7,205 shares of the company’s stock, valued at $8,394,113.20. The trade was a 62.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.98% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of BlackRock in a report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of BlackRock from $1,312.00 to $1,305.00 and set a “buy” rating on the stock in a report on Friday. Evercore ISI increased their price objective on BlackRock from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Loop Capital set a $1,255.00 price target on BlackRock in a research report on Tuesday, October 21st. Finally, Barclays raised their price objective on BlackRock from $1,310.00 to $1,360.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Seventeen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,302.53.

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.