ST Germain D J Co. Inc. grew its position in BlackRock, Inc. (NYSE:BLK) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,824 shares of the asset manager’s stock after acquiring an additional 112 shares during the quarter. ST Germain D J Co. Inc.’s holdings in BlackRock were worth $1,263,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLK. BlackRock Inc. lifted its position in shares of BlackRock by 2,775.4% in the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock valued at $2,508,733,000 after acquiring an additional 6,314,004 shares in the last quarter. Third Point LLC purchased a new position in shares of BlackRock in the second quarter valued at approximately $654,736,000. Harbour Capital Advisors LLC lifted its position in shares of BlackRock by 38,807.6% in the second quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock valued at $2,848,000 after acquiring an additional 1,199,932 shares in the last quarter. Capital World Investors lifted its position in shares of 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 acquiring an additional 810,667 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of 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 acquiring an additional 656,569 shares in the last quarter. Institutional investors and hedge funds own 82.24% of the company’s stock.
Several equities analysts have recently weighed in on BLK shares. Morgan Stanley restated an “overweight” rating and issued a $460.00 target price (up previously from $422.00) on shares of BlackRock in a research report on Monday, July 10th. Wells Fargo & Company reiterated a “market perform” rating and set a $425.00 price objective (up previously from $380.00) on shares of BlackRock in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $440.00 price objective on shares of BlackRock in a research report on Friday, July 14th. Credit Suisse Group reiterated an “outperform” rating and set a $534.00 price objective on shares of BlackRock in a research report on Tuesday, July 18th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $455.00 price objective (down previously from $465.00) on shares of BlackRock in a research report on Tuesday, July 18th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $489.08.
In other BlackRock news, Director J. Richard Kushel sold 100 shares of the firm’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was 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. In the last three months, insiders have sold 4,775 shares of company stock valued at $2,053,412. 1.86% of the stock is owned by insiders.
BlackRock, Inc. (NYSE BLK) traded up $4.19 during mid-day trading on Friday, reaching $479.11. The company’s stock had a trading volume of 427,558 shares, compared to its average volume of 544,990. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.22 and a current ratio of 3.22. The firm has a market capitalization of $77,422.73, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.65 and a beta of 1.79. BlackRock, Inc. has a one year low of $339.90 and a one year high of $489.79.
BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.49 by $0.43. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. BlackRock had a return on equity of 12.09% and a net margin of 29.52%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.14 earnings per share. analysts predict that BlackRock, Inc. will post 22.29 EPS for the current fiscal year.
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BlackRock Company 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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