Keybank National Association OH decreased its stake in BlackRock, Inc. (NYSE:BLK) by 8.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,800 shares of the asset manager’s stock after selling 6,279 shares during the quarter. Keybank National Association OH’s holdings in BlackRock were worth $28,877,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Virtus ETF Advisers LLC bought a new position in BlackRock during the second quarter valued at approximately $27,000. Garrett Wealth Advisory Group LLC purchased a new stake in shares of BlackRock during the third quarter valued at approximately $30,000. Massey Quick Simon & CO. LLC purchased a new stake in BlackRock in the second quarter worth $31,000. MRA Associates USA LLC purchased a new stake in BlackRock in the second quarter worth $33,000. Finally, SRS Capital Advisors Inc. purchased a new stake in BlackRock in the second quarter worth $33,000. Institutional investors own 81.96% of the company’s stock.
In other BlackRock news, insider Jerkovic Milan 3,000,000 shares of the firm’s stock in a transaction on Thursday, October 24th. Also, CEO Laurence Fink sold 100 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $457.02, for a total value of $45,702.00. The disclosure for this sale can be found here. Company insiders own 1.42% of the company’s stock.
BlackRock stock traded down $1.52 on Friday, hitting $488.64. 202,196 shares of the stock traded hands, compared to its average volume of 529,999. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 0.77. The firm has a market cap of $74.57 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 1.67 and a beta of 1.54. The business’s fifty day simple moving average is $447.74 and its 200 day simple moving average is $448.91. BlackRock, Inc. has a 1 year low of $360.79 and a 1 year high of $495.39.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, October 15th. The asset manager reported $7.15 EPS for the quarter, beating the consensus estimate of $6.95 by $0.20. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.69 billion. BlackRock had a return on equity of 13.00% and a net margin of 29.31%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $7.52 earnings per share. As a group, analysts predict that BlackRock, Inc. will post 27.55 earnings per share for the current year.
A number of analysts recently commented on the company. Wells Fargo & Co reaffirmed a “hold” rating on shares of BlackRock in a research note on Tuesday, October 15th. Morgan Stanley raised their price target on BlackRock from $547.00 to $554.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Deutsche Bank raised BlackRock from a “hold” rating to a “buy” rating and raised their price target for the stock from $465.00 to $543.00 in a research note on Wednesday. Credit Suisse Group set a $567.00 price target on BlackRock and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, ValuEngine lowered BlackRock from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $507.10.
BlackRock Company Profile
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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