Focus Partners Advisor Solutions LLC Has $2.79 Million Stock Holdings in BlackRock $BLK

Key Points

• Focus Partners Advisor Solutions LLC reduced its stake in BlackRock by 17.9% in Q2, holding shares worth $2.79 million following the sale of 578 shares.
• Several institutional investors increased their positions in BlackRock, with 80.69% of the stock currently owned by such investors, highlighting strong institutional interest.
• BlackRock's stock recently opened at $1,138.60, and the company reported EPS of $11.55, missing analysts' estimates but showing a 25.2% revenue growth compared to the previous year.

Focus Partners Advisor Solutions LLC cut its holdings in BlackRock (NYSE:BLK - Free Report) by 17.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,660 shares of the asset manager's stock after selling 578 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in BlackRock were worth $2,790,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Garde Capital Inc. increased its position in BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock worth $28,000 after purchasing an additional 18 shares during the period. Fairway Wealth LLC increased its position in BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after purchasing an additional 13 shares during the period. Game Plan Financial Advisors LLC increased its position in BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock worth $28,000 after purchasing an additional 15 shares during the period. Mid American Wealth Advisory Group Inc. acquired a new stake in BlackRock in the second quarter worth about $34,000. Finally, MorganRosel Wealth Management LLC bought a new position in BlackRock during the first quarter worth about $31,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Loop Capital set a $1,255.00 target price on BlackRock in a report on Tuesday. TD Cowen raised their target price on BlackRock from $1,301.00 to $1,407.00 and gave the stock a "buy" rating in a report on Wednesday, October 15th. Wells Fargo & Company reduced their target price on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a report on Wednesday, July 16th. BMO Capital Markets raised their target price on BlackRock from $1,280.00 to $1,300.00 and gave the stock an "outperform" rating in a report on Tuesday, October 21st. Finally, Cowen restated a "buy" rating on shares of BlackRock in a report on Wednesday, October 15th. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,299.29.

Insiders Place Their Bets

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the company's stock in a transaction on 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 transaction, the director directly owned 7,205 shares of the company's stock, valued at $8,394,113.20. This represents a 62.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were 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 in the company, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company's stock.

BlackRock Stock Up 1.2%

BLK opened at $1,138.60 on Friday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The stock's fifty day simple moving average is $1,139.57 and its 200 day simple moving average is $1,053.41. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94. The stock has a market cap of $176.31 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 1.97 and a beta of 1.45.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 EPS 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 firm had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.22 billion. During the same period in the prior year, the company earned $11.46 earnings per share. The business's quarterly revenue was up 25.2% compared to the same quarter last year. As a group, research analysts expect that BlackRock will post 47.41 earnings per share 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.

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