State Board of Administration of Florida Retirement System raised its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,683 shares of the asset manager’s stock after acquiring an additional 2,668 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.11% of BlackRock worth $79,887,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. HRT Financial LLC acquired a new stake in shares of BlackRock in the first quarter worth about $238,000. Covington Investment Advisors Inc. boosted its holdings in shares of BlackRock by 1.7% in the 1st quarter. Covington Investment Advisors Inc. now owns 10,057 shares of the asset manager’s stock worth $3,857,000 after acquiring an additional 170 shares in the last quarter. ZWJ Investment Counsel Inc. acquired a new position in BlackRock during the 1st quarter worth $263,000. First Business Financial Services Inc. lifted its holdings in BlackRock by 9.9% during the 1st quarter. First Business Financial Services Inc. now owns 1,374 shares of the asset manager’s stock worth $527,000 after buying an additional 124 shares in the last quarter. Finally, Rafferty Asset Management LLC lifted its holdings in BlackRock by 260.6% during the 1st quarter. Rafferty Asset Management LLC now owns 22,709 shares of the asset manager’s stock worth $8,709,000 after buying an additional 16,411 shares in the last quarter. Institutional investors own 82.24% of the company’s stock.
Shares of BlackRock, Inc. (BLK) traded up $4.19 during trading hours on Friday, reaching $479.11. 427,558 shares of the company traded hands, compared to its average volume of 544,990. BlackRock, Inc. has a one year low of $339.90 and a one year high of $489.79. The firm has a market cap of $77,422.73, a P/E ratio of 22.23, a PEG ratio of 1.65 and a beta of 1.79. 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 issued its earnings results 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 net margin of 29.52% and a return on equity of 12.09%. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period last year, the business posted $5.14 EPS. BlackRock’s revenue was up 14.0% on a year-over-year basis. research analysts anticipate that BlackRock, Inc. will post 22.29 EPS for the current year.
In other news, Director J. Richard Kushel sold 100 shares of the stock in a transaction that occurred on Thursday, October 12th. The shares were 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 Securities & Exchange Commission, which is available through this link. Also, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were 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. Over the last three months, insiders have sold 4,775 shares of company stock valued at $2,053,412. 1.86% of the stock is currently owned by insiders.
BLK has been the subject of a number of research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $440.00 target price on shares of BlackRock in a report on Friday, July 14th. Goldman Sachs Group, Inc. (The) upgraded BlackRock from a “neutral” rating to a “buy” rating and raised their price objective for the company from $440.00 to $500.00 in a report on Thursday, September 28th. Wells Fargo & Company restated a “market perform” rating and issued a $475.00 price objective (up previously from $450.00) on shares of BlackRock in a report on Thursday, October 12th. Barclays PLC began coverage on BlackRock in a report on Friday, September 8th. They issued an “overweight” rating and a $475.00 price objective for the company. Finally, Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 target price for the company in a research report on Tuesday, October 3rd. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. BlackRock presently has an average rating of “Buy” and a consensus price target of $489.08.
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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