Howland Capital Management LLC Acquires New Stake in BlackRock, Inc. (BLK)

Howland Capital Management LLC acquired a new position in BlackRock, Inc. (NYSE:BLK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 467 shares of the asset manager’s stock, valued at approximately $209,000.

Other institutional investors have also added to or reduced their stakes in the company. Salem Investment Counselors Inc. grew 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 purchasing an additional 30 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in BlackRock by 48.9% during the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after purchasing an additional 85 shares in the last quarter. Enterprise Financial Services Corp grew its holdings in BlackRock by 52.5% during the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after purchasing an additional 85 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in BlackRock during the 2nd quarter valued at $104,000. Finally, Kings Point Capital Management grew its holdings in BlackRock by 34.5% during the 1st quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock valued at $105,000 after purchasing an additional 70 shares in the last quarter. 82.24% of the stock is owned by institutional investors.

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In other BlackRock news, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total value of $1,526,264.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 100 shares of the business’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $481.58, for a total transaction of $48,158.00. The disclosure for this sale can be found here. Insiders sold a total of 4,775 shares of company stock worth $2,053,412 in the last three months. Insiders own 1.86% of the company’s stock.

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

A number of equities research analysts recently weighed in on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $440.00 price target on shares of BlackRock in a report on Tuesday, September 26th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $475.00 price target (up from $450.00) on shares of BlackRock in a report on Thursday, October 12th. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price target for the company in a report on Tuesday, October 3rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $500.00 price target on shares of BlackRock in a report on Thursday, October 12th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $455.00 price target (down from $465.00) on shares of BlackRock in a report on Tuesday, July 18th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. BlackRock presently has a consensus rating of “Buy” and an average price target of $489.08.

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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