Country Trust Bank grew its position in BlackRock, Inc. (NYSE:BLK) by 2.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 97,190 shares of the asset manager’s stock after buying an additional 2,183 shares during the period. BlackRock makes up 2.0% of Country Trust Bank’s portfolio, making the stock its 12th largest position. Country Trust Bank owned approximately 0.06% of BlackRock worth $43,453,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of BlackRock by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock valued at $3,569,693,000 after buying an additional 656,569 shares during the period. Capital World Investors grew its holdings in shares of BlackRock by 12.9% in the 2nd quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock valued at $3,001,358,000 after buying an additional 810,667 shares during the period. BlackRock Inc. grew its holdings in shares of BlackRock by 3.2% in the 2nd quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock valued at $2,851,570,000 after buying an additional 209,209 shares during the period. State Street Corp grew its holdings in shares of BlackRock by 2.1% in the 1st quarter. State Street Corp now owns 5,445,766 shares of the asset manager’s stock valued at $2,088,501,000 after buying an additional 112,993 shares during the period. Finally, UBS Group AG grew its holdings in shares of BlackRock by 40.2% in the 1st quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock valued at $650,563,000 after buying an additional 486,502 shares during the period. 82.24% of the stock is owned by institutional investors.
Shares of BlackRock, Inc. (BLK) traded up $4.19 during trading hours on Friday, reaching $479.11. 427,558 shares of the company’s stock traded hands, compared to its average volume of 544,990. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 1.06. BlackRock, Inc. has a 52-week low of $339.90 and a 52-week high of $489.79. The company has a market cap of $77,422.73, a PE ratio of 22.23, a PEG ratio of 1.65 and a beta of 1.79.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, topping the consensus estimate of $5.49 by $0.43. BlackRock had a net margin of 29.52% and a return on equity of 12.09%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the firm posted $5.14 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. research analysts expect that BlackRock, Inc. will post 22.29 EPS for the current year.
In other BlackRock news, Director J. Richard Kushel sold 100 shares of the business’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $481.58, for a total transaction of $48,158.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. Insiders have sold a total of 4,775 shares of company stock worth $2,053,412 over the last three months. Insiders own 1.86% of the company’s stock.
BLK has been the subject of several research analyst reports. BidaskClub lowered shares of BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Barclays PLC boosted their price target on shares of BlackRock from $475.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, October 10th. J P Morgan Chase & Co boosted their price target on shares of BlackRock to $558.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $475.00 target price (up from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $460.00 target price (up from $422.00) on shares of BlackRock in a research note on Monday, July 10th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $489.08.
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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