Ballentine Partners LLC boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 20.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,895 shares of the asset manager’s stock after acquiring an additional 323 shares during the quarter. Ballentine Partners LLC’s holdings in BlackRock were worth $847,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in BLK. BlackRock Inc. boosted its holdings in BlackRock by 2,775.4% during the 1st 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 during the period. Third Point LLC acquired a new stake in BlackRock in the 2nd quarter valued at about $654,736,000. Harbour Capital Advisors LLC raised its position in BlackRock by 38,807.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock valued at $2,848,000 after purchasing an additional 1,199,932 shares in the last quarter. Capital World Investors raised its position in BlackRock by 12.9% in the 2nd quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock valued at $3,001,358,000 after purchasing an additional 810,667 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in BlackRock by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock valued at $3,569,693,000 after purchasing an additional 656,569 shares in the last quarter. Institutional investors own 82.30% of the company’s stock.
In related news, Director J. Richard Kushel sold 100 shares of BlackRock stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $481.58, for a total value of $48,158.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of BlackRock stock in a transaction that occurred 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. Insiders sold a total of 4,775 shares of company stock worth $2,053,412 over the last quarter. Company insiders own 1.86% of the company’s stock.
A number of equities research analysts have issued reports on BLK shares. BidaskClub lowered BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Barclays PLC increased their price target on BlackRock from $475.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, October 10th. J P Morgan Chase & Co increased their price target on BlackRock to $558.00 and gave the company an “overweight” rating in a research report on Thursday, October 12th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $475.00 price target (up previously from $450.00) on shares of BlackRock in a research report on Thursday, October 12th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of BlackRock in a research report on Tuesday, August 29th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $489.08.
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Shares of BlackRock, Inc. (NYSE:BLK) traded down $0.77 during mid-day trading on Friday, hitting $465.83. The company’s stock had a trading volume of 304,500 shares, compared to its average volume of 443,741. BlackRock, Inc. has a one year low of $365.83 and a one year high of $489.79. The stock has a market cap of $75,276.73, a P/E ratio of 21.62, a P/E/G ratio of 1.61 and a beta of 1.79. The company has a quick ratio of 3.22, a current ratio of 2.89 and a debt-to-equity ratio of 1.09.
BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, beating the consensus estimate of $5.49 by $0.43. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period last year, the business posted $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.
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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