Lincoln National Corp increased its holdings in BlackRock, Inc. (NYSE:BLK) by 29.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 666 shares of the asset manager’s stock after buying an additional 150 shares during the period. Lincoln National Corp’s holdings in BlackRock were worth $298,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Salem Investment Counselors Inc. boosted its holdings in BlackRock by 14.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock worth $101,000 after buying an additional 30 shares during the period. Enterprise Financial Services Corp boosted its holdings in BlackRock by 52.5% in the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after buying an additional 85 shares during the period. Penserra Capital Management LLC bought a new position in BlackRock in the 2nd quarter worth approximately $104,000. Proficio Capital Partners LLC lifted 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 worth $103,000 after purchasing an additional 85 shares in the last quarter. Finally, Harfst & Associates Inc. lifted its stake in BlackRock by 17.3% in the 2nd quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock worth $111,000 after purchasing an additional 39 shares in the last quarter. 82.30% of the stock is owned by institutional investors.
In related news, Director J. Richard Kushel sold 100 shares of the stock in a transaction 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 document filed with the SEC, which is accessible through this link. Also, insider Robert W. Fairbairn sold 3,675 shares of the 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,775 shares of company stock worth $2,053,412. Corporate insiders own 1.86% of the company’s stock.
Several analysts have issued reports on BLK shares. Morgan Stanley reiterated 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. Wells Fargo & Company reiterated a “market perform” rating and issued a $425.00 target price (up from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $440.00 target price on shares of BlackRock in a research note on Friday, July 14th. Credit Suisse Group reiterated an “outperform” rating and issued a $534.00 target price on shares of BlackRock in a research note on Tuesday, July 18th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $455.00 target price (down 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 assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $489.08.
BlackRock, Inc. (NYSE:BLK) traded down $0.63 during trading on Monday, hitting $478.48. 11,417 shares of the stock traded hands, compared to its average volume of 543,843. 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 stock has a market cap of $77,422.73, a PE ratio of 22.23, a P/E/G ratio of 1.65 and a beta of 1.79. BlackRock, Inc. has a 12-month low of $339.90 and a 12-month high of $489.79.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.49 by $0.43. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.09%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the company posted $5.14 EPS. equities research analysts forecast that BlackRock, Inc. will post 22.29 EPS for the current year.
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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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