Heritage Investors Management Corp raised its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 8.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,566 shares of the asset manager’s stock after purchasing an additional 2,661 shares during the period. Heritage Investors Management Corp’s holdings in BlackRock were worth $15,349,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Soros Fund Management LLC boosted its holdings in shares of BlackRock by 59.8% during the second quarter. Soros Fund Management LLC now owns 12,983 shares of the asset manager’s stock valued at $6,479,000 after acquiring an additional 4,858 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in shares of BlackRock by 2.8% during the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,293 shares of the asset manager’s stock valued at $3,639,000 after acquiring an additional 200 shares during the period. MUFG Americas Holdings Corp boosted its holdings in shares of BlackRock by 1.5% during the second quarter. MUFG Americas Holdings Corp now owns 16,441 shares of the asset manager’s stock valued at $8,205,000 after acquiring an additional 249 shares during the period. Cibc Bank USA boosted its holdings in shares of BlackRock by 8.8% during the third quarter. Cibc Bank USA now owns 1,454 shares of the asset manager’s stock valued at $686,000 after acquiring an additional 117 shares during the period. Finally, New Potomac Partners LLC boosted its holdings in shares of BlackRock by 4.4% during the third quarter. New Potomac Partners LLC now owns 5,332 shares of the asset manager’s stock valued at $2,513,000 after acquiring an additional 225 shares during the period. Hedge funds and other institutional investors own 82.65% of the company’s stock.
Several equities analysts have recently issued reports on the stock. ValuEngine raised shares of BlackRock from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Argus reduced their price target on shares of BlackRock from $620.00 to $535.00 and set a “buy” rating for the company in a report on Wednesday, October 17th. Citigroup reduced their price target on shares of BlackRock to $500.00 and set a “buy” rating for the company in a report on Wednesday, October 17th. Goldman Sachs Group downgraded shares of BlackRock from a “conviction-buy” rating to a “buy” rating in a report on Wednesday, October 17th. Finally, Wells Fargo & Co reissued a “hold” rating and set a $440.00 price target (down previously from $510.00) on shares of BlackRock in a report on Tuesday, October 16th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $569.08.
In related news, Director William E. Ford acquired 2,000 shares of BlackRock stock in a transaction that occurred on Monday, October 22nd. The stock was acquired at an average price of $395.21 per share, with a total value of $790,420.00. Following the completion of the acquisition, the director now directly owns 9,466 shares of the company’s stock, valued at approximately $3,741,057.86. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.86% of the company’s stock.
BLK stock opened at $413.95 on Friday. The stock has a market capitalization of $67.78 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.27 and a beta of 1.54. BlackRock, Inc. has a fifty-two week low of $376.31 and a fifty-two week high of $594.52. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.87 and a quick ratio of 3.87.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 16th. The asset manager reported $7.52 earnings per share for the quarter, topping the consensus estimate of $6.93 by $0.59. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.65 billion. BlackRock had a net margin of 39.92% and a return on equity of 13.76%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.76 earnings per share. On average, analysts anticipate that BlackRock, Inc. will post 27.71 EPS for the current fiscal year.
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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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