Middleton & Co Inc MA increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,336 shares of the asset manager’s stock after buying an additional 135 shares during the period. Middleton & Co Inc MA’s holdings in BlackRock were worth $5,068,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in BlackRock by 8.4% in the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock valued at $3,569,693,000 after purchasing an additional 656,569 shares in the last quarter. Capital World Investors increased its stake in BlackRock by 12.9% in the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock valued at $3,001,358,000 after purchasing an additional 810,667 shares in the last quarter. BlackRock Inc. increased its stake in BlackRock by 3.2% in the second quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock valued at $2,851,570,000 after purchasing an additional 209,209 shares in the last quarter. State Street Corp increased its stake in BlackRock by 2.1% in the first quarter. State Street Corp now owns 5,445,766 shares of the asset manager’s stock valued at $2,088,501,000 after purchasing an additional 112,993 shares in the last quarter. Finally, UBS Group AG increased its stake in BlackRock by 40.2% in the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock valued at $650,563,000 after purchasing an additional 486,502 shares in the last quarter. 82.24% of the stock is owned by institutional investors and hedge funds.
BlackRock, Inc. (NYSE:BLK) traded up $9.82 during trading hours on Friday, hitting $479.11. 427,558 shares of the stock traded hands, compared to its average volume of 544,990. BlackRock, Inc. has a one year low of $338.71 and a one year high of $489.79. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $77.13 billion, a P/E ratio of 22.04, a PEG ratio of 1.64 and a beta of 1.79.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.49 by $0.43. BlackRock had a return on equity of 12.09% and a net margin of 29.52%. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the business earned $5.14 earnings per share. The business’s revenue was up 14.0% on a year-over-year basis. equities research analysts predict that BlackRock, Inc. will post 22.29 earnings per share for the current year.
Several equities research analysts have weighed in on BLK shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $476.00 price target (up from $460.00) on shares of BlackRock in a research note on Tuesday, July 18th. Barclays PLC started coverage on shares of BlackRock in a research note on Friday, September 8th. They issued an “overweight” rating and a $475.00 price target for the company. Credit Suisse Group reaffirmed an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $440.00 price target on shares of BlackRock in a research note on Friday, July 14th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $425.00 price target (up from $380.00) on shares of BlackRock in a research note 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 company’s stock. BlackRock has an average rating of “Buy” and an average price target of $489.08.
In related news, Director J. Richard Kushel sold 100 shares of the stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $481.58, for a total transaction of $48,158.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Mccombe sold 1,000 shares of the stock in a transaction dated 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 have sold 4,775 shares of company stock worth $2,053,412 over the last quarter. 1.86% of the stock is currently owned by company insiders.
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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