Bartlett & Co. LLC reduced its stake in BlackRock, Inc. (NYSE:BLK) by 93.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,836 shares of the asset manager’s stock after selling 72,270 shares during the period. Bartlett & Co. LLC’s holdings in BlackRock were worth $2,155,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of BLK. Buckingham Capital Management Inc. grew its position in shares of BlackRock by 1.6% in the 1st quarter. Buckingham Capital Management Inc. now owns 16,412 shares of the asset manager’s stock valued at $7,014,000 after buying an additional 259 shares during the last quarter. First Financial Bank Trust Division grew its position in BlackRock by 1.5% during the second quarter. First Financial Bank Trust Division now owns 16,722 shares of the asset manager’s stock worth $7,847,000 after buying an additional 240 shares during the period. Park National Corp OH grew its position in BlackRock by 27.4% during the second quarter. Park National Corp OH now owns 22,513 shares of the asset manager’s stock worth $10,565,000 after buying an additional 4,839 shares during the period. Rockland Trust Co. grew its position in BlackRock by 3.6% during the second quarter. Rockland Trust Co. now owns 16,279 shares of the asset manager’s stock worth $7,640,000 after buying an additional 567 shares during the period. Finally, Foundations Investment Advisors LLC acquired a new position in BlackRock during the second quarter worth about $278,000. 81.96% of the stock is owned by hedge funds and other institutional investors.
NYSE BLK traded up $0.34 during mid-day trading on Friday, reaching $490.50. 184,632 shares of the stock were exchanged, compared to its average volume of 529,999. BlackRock, Inc. has a 1-year low of $360.79 and a 1-year high of $495.39. The business’s fifty day simple moving average is $447.74 and its 200 day simple moving average is $448.91. The stock has a market capitalization of $74.57 billion, a PE ratio of 18.21, a PEG ratio of 1.67 and a beta of 1.54. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.92 and a current ratio of 2.92.
BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, October 15th. The asset manager reported $7.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $6.95 by $0.20. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.69 billion. BlackRock had a net margin of 29.31% and a return on equity of 13.00%. BlackRock’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $7.52 earnings per share. On average, analysts anticipate that BlackRock, Inc. will post 27.55 EPS for the current year.
BLK has been the topic of several research reports. Barclays reiterated a “buy” rating and issued a $485.00 price target on shares of BlackRock in a research report on Wednesday, October 9th. ValuEngine lowered shares of BlackRock from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Deutsche Bank upgraded shares of BlackRock from a “hold” rating to a “buy” rating and increased their price target for the company from $465.00 to $543.00 in a research report on Wednesday. JPMorgan Chase & Co. lowered their price target on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, Morgan Stanley increased their price target on shares of BlackRock from $547.00 to $554.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $507.10.
In other BlackRock news, CEO Laurence Fink sold 100 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $457.02, for a total transaction of $45,702.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jerkovic Milan 2,522,596 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. Company insiders own 1.42% of the company’s stock.
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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