Private Advisor Group LLC decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 59.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,271 shares of the asset manager’s stock after selling 9,144 shares during the quarter. Private Advisor Group LLC’s holdings in BlackRock were worth $2,956,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. raised its position in shares of BlackRock by 2.1% during the second quarter. BlackRock Inc. now owns 7,601,685 shares of the asset manager’s stock worth $3,793,546,000 after acquiring an additional 153,749 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of BlackRock by 2.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 476,036 shares of the asset manager’s stock worth $237,562,000 after purchasing an additional 12,785 shares during the period. Mawer Investment Management Ltd. grew its stake in shares of BlackRock by 1.5% during the second quarter. Mawer Investment Management Ltd. now owns 411,071 shares of the asset manager’s stock worth $205,141,000 after purchasing an additional 5,981 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of BlackRock by 5.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 380,630 shares of the asset manager’s stock worth $189,950,000 after purchasing an additional 21,123 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of BlackRock by 47.4% during the second quarter. Janus Henderson Group PLC now owns 348,987 shares of the asset manager’s stock worth $174,168,000 after purchasing an additional 112,221 shares during the period. Hedge funds and other institutional investors own 82.65% of the company’s stock.
In other BlackRock news, Director William E. Ford bought 2,000 shares of the firm’s stock in a transaction on Wednesday, October 17th. The stock was purchased at an average cost of $409.59 per share, with a total value of $819,180.00. Following the completion of the purchase, the director now owns 7,466 shares in the company, valued at $3,057,998.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.86% of the stock is currently owned by insiders.
NYSE:BLK opened at $413.95 on Friday. BlackRock, Inc. has a 1 year low of $376.31 and a 1 year high of $594.52. The company has a quick ratio of 3.87, a current ratio of 3.87 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $67.78 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 1.27 and a beta of 1.54.
BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, October 16th. The asset manager reported $7.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.93 by $0.59. BlackRock had a return on equity of 13.76% and a net margin of 39.92%. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the previous year, the firm earned $5.76 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts anticipate that BlackRock, Inc. will post 27.71 earnings per share for the current year.
A number of equities research analysts recently commented on BLK shares. Keefe, Bruyette & Woods raised BlackRock from a “market perform” rating to an “outperform” rating and set a $590.00 price objective for the company in a research note on Friday, July 13th. Goldman Sachs Group decreased their price objective on BlackRock to $570.00 and set a “buy” rating for the company in a research note on Tuesday, July 17th. Barclays decreased their price objective on BlackRock from $615.00 to $595.00 and set an “overweight” rating for the company in a research note on Tuesday, July 17th. Zacks Investment Research cut BlackRock from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Finally, Deutsche Bank decreased their price objective on BlackRock from $570.00 to $561.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $569.08.
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BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.
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