Conning Inc. reduced its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,530 shares of the asset manager’s stock after selling 2,170 shares during the quarter. Conning Inc.’s holdings in BlackRock were worth $30,192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of BLK. Salem Investment Counselors Inc. increased its holdings in BlackRock by 14.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock valued at $101,000 after acquiring an additional 30 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of BlackRock by 48.9% during the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after buying an additional 85 shares in the last quarter. Enterprise Financial Services Corp grew its holdings in shares of BlackRock by 52.5% during the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after buying an additional 85 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of BlackRock during the second quarter worth about $104,000. Finally, Kings Point Capital Management grew its holdings in shares of BlackRock by 34.5% during the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 82.24% of the company’s stock.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, topping analysts’ consensus estimates of $5.49 by $0.43. BlackRock had a return on equity of 12.09% and a net margin of 29.52%. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the company posted $5.14 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis.

BLK has been the subject of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating and set a $476.00 price target (up from $460.00) on shares of BlackRock in a report on Tuesday, July 18th. Barclays PLC initiated coverage on shares of BlackRock in a report on Friday, September 8th. They set an “overweight” rating and a $475.00 price target for the company. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a report on Tuesday, August 29th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $440.00 price target on shares of BlackRock in a report on Friday, July 14th. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $425.00 target price (up from $380.00) on shares of BlackRock in a report on Wednesday, July 12th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $489.08.

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In related news, Director J. Richard Kushel sold 100 shares of the stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $481.58, for a total value of $48,158.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark Mccombe sold 1,000 shares of the stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $478.99, for a total value of $478,990.00. The disclosure for this sale can be found here. Insiders sold 4,775 shares of company stock worth $2,053,412 in the last 90 days. 1.86% of the stock is currently owned by corporate insiders.

BlackRock Profile

BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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