WASHINGTON TRUST Co lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,453 shares of the asset manager’s stock after selling 284 shares during the period. WASHINGTON TRUST Co’s holdings in BlackRock were worth $14,955,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Salem Investment Counselors Inc. raised its stake in shares of BlackRock by 14.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock worth $101,000 after purchasing an additional 30 shares in the last quarter. Proficio Capital Partners LLC raised its stake in BlackRock by 48.9% in the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after acquiring an additional 85 shares during the period. Enterprise Financial Services Corp raised its stake in BlackRock by 52.5% in the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after acquiring an additional 85 shares during the period. Penserra Capital Management LLC bought a new stake in BlackRock in the 2nd quarter valued at $104,000. Finally, Harfst & Associates Inc. raised its stake in BlackRock by 17.3% in the 2nd quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock valued at $111,000 after acquiring an additional 39 shares during the period. Institutional investors own 82.24% of the company’s stock.
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Shares of BlackRock, Inc. (BLK) traded up $4.19 during midday 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 current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.06. The firm has a market cap of $77,422.73, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 1.65 and a beta of 1.79. BlackRock, Inc. has a 52-week low of $339.90 and a 52-week high of $489.79.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the business earned $5.14 EPS. The company’s revenue 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 related news, 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 transaction of $1,526,264.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 disclosure for this sale can be found here. Insiders sold a total of 4,775 shares of company stock worth $2,053,412 over the last 90 days. Company insiders own 1.86% of the company’s stock.
BLK has been the topic of a number of research analyst reports. Morgan Stanley restated an “overweight” rating and issued a $460.00 price target (up previously from $422.00) on shares of BlackRock in a research note on Monday, July 10th. Wells Fargo & Company restated a “market perform” rating and issued a $425.00 price target (up previously from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $440.00 price target on shares of BlackRock in a research note on Friday, July 14th. Credit Suisse Group restated an “outperform” rating and issued a $534.00 price target on shares of BlackRock in a research note on Tuesday, July 18th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $455.00 price target (down previously from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. BlackRock has a consensus rating of “Buy” and an average 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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