Haverford Trust Co. Purchases 7,644 Shares of BlackRock, Inc. (NYSE:BLK)

Haverford Trust Co. grew its position in shares of BlackRock, Inc. (NYSE:BLK) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 304,302 shares of the asset manager’s stock after acquiring an additional 7,644 shares during the quarter. BlackRock comprises 2.4% of Haverford Trust Co.’s holdings, making the stock its 14th largest holding. Haverford Trust Co. owned 0.20% of BlackRock worth $135,609,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Donaldson Capital Management LLC boosted its position in shares of BlackRock by 2.0% during the third quarter. Donaldson Capital Management LLC now owns 64,184 shares of the asset manager’s stock valued at $28,603,000 after buying an additional 1,270 shares during the last quarter. First National Bank of Omaha boosted its position in shares of BlackRock by 6.8% during the third quarter. First National Bank of Omaha now owns 35,181 shares of the asset manager’s stock valued at $15,678,000 after buying an additional 2,226 shares during the last quarter. Eastern Bank boosted its position in shares of BlackRock by 2.1% during the third quarter. Eastern Bank now owns 40,080 shares of the asset manager’s stock valued at $17,862,000 after buying an additional 837 shares during the last quarter. Traynor Capital Management Inc. boosted its position in shares of BlackRock by 19.2% during the third quarter. Traynor Capital Management Inc. now owns 2,240 shares of the asset manager’s stock valued at $998,000 after buying an additional 361 shares during the last quarter. Finally, Sompo Japan Nipponkoa Asset Management CO. LTD. boosted its position in shares of BlackRock by 41.5% during the third quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 1,160 shares of the asset manager’s stock valued at $517,000 after buying an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 81.96% of the company’s stock.

Several brokerages recently issued reports on BLK. Barclays reaffirmed a “buy” rating and set a $485.00 target price on shares of BlackRock in a research report on Wednesday, October 9th. Credit Suisse Group set a $567.00 target price on BlackRock and gave the company a “buy” rating in a research report on Thursday, September 12th. BMO Capital Markets initiated coverage on BlackRock in a research report on Monday, October 7th. They issued a “market perform” rating and a $547.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on 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 boosted their price objective on BlackRock from $547.00 to $554.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $507.10.

Shares of NYSE BLK traded up $0.05 during trading on Friday, reaching $490.21. 356,024 shares of the stock traded hands, compared to its average volume of 571,105. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.92 and a quick ratio of 2.92. BlackRock, Inc. has a 52-week low of $360.79 and a 52-week high of $495.39. The stock has a market capitalization of $74.57 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 1.67 and a beta of 1.54. The company has a 50-day moving average of $447.74 and a 200-day moving average of $448.91.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, October 15th. The asset manager reported $7.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.95 by $0.20. BlackRock had a return on equity of 13.00% and a net margin of 29.31%. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the previous year, the company posted $7.52 EPS. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Analysts expect that BlackRock, Inc. will post 27.55 earnings per share for the current fiscal year.

In other BlackRock news, CEO Laurence Fink sold 100 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $457.02, for a total value of $45,702.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jerkovic Milan 3,000,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. Insiders own 1.42% of the company’s stock.

About BlackRock

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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