Csenge Advisory Group purchased a new stake in BlackRock, Inc. (NYSE:BLK) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 542 shares of the asset manager’s stock, valued at approximately $242,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dupont Capital Management Corp increased its holdings in shares of BlackRock by 11.6% in the 3rd quarter. Dupont Capital Management Corp now owns 37,376 shares of the asset manager’s stock valued at $16,710,000 after acquiring an additional 3,871 shares during the last quarter. Andra AP fonden increased its holdings in shares of BlackRock by 41.9% in the 3rd quarter. Andra AP fonden now owns 12,200 shares of the asset manager’s stock valued at $5,454,000 after acquiring an additional 3,600 shares during the last quarter. Middleton & Co Inc MA increased its holdings in shares of BlackRock by 1.2% in the 3rd quarter. Middleton & Co Inc MA now owns 11,336 shares of the asset manager’s stock valued at $5,068,000 after acquiring an additional 135 shares during the last quarter. Pillar Pacific Capital Management LLC increased its holdings in shares of BlackRock by 1.0% in the 3rd quarter. Pillar Pacific Capital Management LLC now owns 17,314 shares of the asset manager’s stock valued at $7,741,000 after acquiring an additional 178 shares during the last quarter. Finally, Boston Financial Mangement LLC increased its holdings in shares of BlackRock by 0.8% in the 3rd quarter. Boston Financial Mangement LLC now owns 32,139 shares of the asset manager’s stock valued at $14,369,000 after acquiring an additional 244 shares during the last quarter. Institutional investors and hedge funds own 82.24% of the company’s stock.
In other news, insider Mark Mccombe sold 1,000 shares of the business’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $478.99, for a total value of $478,990.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of BlackRock 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 disclosure for this sale can be found here. Over the last three months, insiders sold 4,775 shares of company stock valued at $2,053,412. Insiders own 1.86% of the company’s stock.
A number of research analysts have recently commented on the company. Jefferies Group LLC reiterated a “hold” rating and issued a $440.00 price objective on shares of BlackRock in a report on Tuesday, September 26th. Wells Fargo & Company restated a “market perform” rating and set a $475.00 price target (up previously from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price target on the stock in a research note on Tuesday, October 3rd. Keefe, Bruyette & Woods restated a “hold” rating and set a $500.00 price target on shares of BlackRock in a research note on Thursday, October 12th. Finally, Deutsche Bank AG restated a “buy” rating and set a $455.00 price target (down previously from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. BlackRock currently has a consensus rating of “Buy” and a consensus target price of $489.08.
BlackRock, Inc. (NYSE:BLK) opened at $479.11 on Friday. The stock has a market capitalization of $77,422.73, a price-to-earnings ratio of 22.23, a P/E/G ratio of 1.65 and a beta of 1.79. BlackRock, Inc. has a 1-year low of $339.90 and a 1-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.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the firm posted $5.14 earnings per share. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. analysts predict that BlackRock, Inc. will post 22.29 EPS for the current year.
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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