Haverford Financial Services Inc. trimmed its position in BlackRock, Inc. (NYSE:BLK) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,286 shares of the asset manager’s stock after selling 229 shares during the quarter. BlackRock comprises approximately 3.4% of Haverford Financial Services Inc.’s holdings, making the stock its 13th biggest position. Haverford Financial Services Inc.’s holdings in BlackRock were worth $9,932,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in BLK. Virtus ETF Advisers LLC bought a new stake in shares of BlackRock during the second quarter worth $27,000. Massey Quick Simon & CO. LLC bought a new stake in shares of BlackRock in the second quarter valued at about $31,000. Garrett Wealth Advisory Group LLC bought a new stake in shares of BlackRock in the third quarter valued at about $30,000. MRA Associates USA LLC bought a new stake in shares of BlackRock in the second quarter valued at about $33,000. Finally, Ellevest Inc. raised its holdings in shares of BlackRock by 89.2% in the second quarter. Ellevest Inc. now owns 70 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 33 shares in the last quarter. 81.96% of the stock is owned by institutional investors and hedge funds.
Several research firms have issued reports on BLK. Barclays reiterated a “buy” rating and issued a $485.00 target price on shares of BlackRock in a research note on Wednesday, October 9th. Wells Fargo & Co restated a “hold” rating on shares of BlackRock in a research note on Tuesday, October 15th. Deutsche Bank upgraded BlackRock from a “hold” rating to a “buy” rating and boosted 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, JPMorgan Chase & Co. dropped their price target on BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $507.10.
Shares of BLK stock traded up $0.05 during trading hours on Friday, hitting $490.21. 356,024 shares of the company’s stock were exchanged, compared to its average volume of 571,105. The company has a quick ratio of 2.92, a current 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 18.20, a P/E/G ratio of 1.67 and a beta of 1.54. The firm has a 50 day moving average of $447.74 and a two-hundred day moving average of $448.91. BlackRock, Inc. has a fifty-two week low of $360.79 and a fifty-two week high of $495.39.
BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, October 15th. The asset manager reported $7.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $6.95 by $0.20. BlackRock had a return on equity of 13.00% and a net margin of 29.31%. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the company posted $7.52 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts forecast that BlackRock, Inc. will post 27.55 earnings per share for the current fiscal year.
In other news, Director J. Richard Kushel sold 2,000 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $446.74, for a total transaction of $893,480.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jerkovic Milan 2,522,596 shares of the company’s stock in a transaction on Wednesday, October 9th. 1.42% of the stock is owned by corporate insiders.
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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