Nixon Peabody Trust Co. Sells 34 Shares of BlackRock, Inc. (NYSE:BLK)

Nixon Peabody Trust Co. lessened its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,493 shares of the asset manager’s stock after selling 34 shares during the quarter. Nixon Peabody Trust Co.’s holdings in BlackRock were worth $10,913,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its stake in shares of BlackRock by 89,389.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after acquiring an additional 1,044,962 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of BlackRock by 104,468.9% in the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after acquiring an additional 791,874 shares in the last quarter. Capital Research Global Investors raised its position in shares of BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after purchasing an additional 435,358 shares during the period. Sarasin & Partners LLP lifted its holdings in shares of BlackRock by 174.8% during the 2nd quarter. Sarasin & Partners LLP now owns 184,291 shares of the asset manager’s stock valued at $145,096,000 after purchasing an additional 117,218 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of BlackRock in the 1st quarter valued at approximately $86,282,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Evercore ISI lifted their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. TD Cowen lifted their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. boosted their price target on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Finally, StockNews.com assumed coverage on BlackRock in a report on Wednesday, November 13th. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.62.

Insider Buying and Selling at BlackRock

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

BlackRock Stock Performance

BLK stock traded down $2.95 during midday trading on Monday, reaching $1,044.42. 45,389 shares of the company were exchanged, compared to its average volume of 572,336. The firm has a market capitalization of $161.76 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 1.87 and a beta of 1.30. 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 one year low of $712.11 and a one year high of $1,068.34. The business has a 50-day moving average price of $969.04 and a two-hundred day moving average price of $871.62.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the business posted $10.91 EPS. Equities research analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current year.

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.