Public Employees Retirement Association of Colorado increased its stake in BlackRock, Inc. (NYSE:BLK) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 339,280 shares of the asset manager’s stock after purchasing an additional 1,199 shares during the quarter. BlackRock comprises about 0.9% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its 25th biggest holding. Public Employees Retirement Association of Colorado owned 0.22% of BlackRock worth $151,197,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of BLK. Eastern Bank increased its holdings in BlackRock by 1.1% in the second quarter. Eastern Bank now owns 39,243 shares of the asset manager’s stock worth $18,417,000 after buying an additional 445 shares during the last quarter. BancorpSouth Bank raised its stake in BlackRock by 8.6% during the second quarter. BancorpSouth Bank now owns 14,321 shares of the asset manager’s stock worth $6,721,000 after acquiring an additional 1,131 shares in the last quarter. Heritage Way Advisors LLC raised its stake in BlackRock by 1.4% during the second quarter. Heritage Way Advisors LLC now owns 5,977 shares of the asset manager’s stock worth $2,805,000 after acquiring an additional 80 shares in the last quarter. Cumberland Partners Ltd raised its stake in BlackRock by 365.2% during the second quarter. Cumberland Partners Ltd now owns 8,802 shares of the asset manager’s stock worth $4,131,000 after acquiring an additional 6,910 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE raised its stake in BlackRock by 13.3% during the second quarter. Smithbridge Asset Management Inc. DE now owns 850 shares of the asset manager’s stock worth $399,000 after acquiring an additional 100 shares in the last quarter. 81.96% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Laurence Fink sold 100 shares of BlackRock stock in a transaction that occurred on 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 is available at this link. Also, insider Jerkovic Milan 2,522,596 shares of the business’s stock in a transaction dated Wednesday, October 9th. 1.42% of the stock is currently owned by company insiders.
Several research analysts have issued reports on the company. ValuEngine lowered BlackRock from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Deutsche Bank upgraded BlackRock from a “hold” rating to a “buy” rating and raised their price target for the company from $465.00 to $543.00 in a report on Wednesday. Credit Suisse Group set a $567.00 price target on BlackRock and gave the company a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. decreased their price target on BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Morgan Stanley raised their price target on BlackRock from $547.00 to $554.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. BlackRock has a consensus rating of “Buy” and an average price target of $507.10.
BLK traded up $0.05 during midday trading on Friday, reaching $490.21. 348,812 shares of the company were exchanged, compared to its average volume of 571,106. 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, Inc. has a one year low of $360.79 and a one year high of $495.39. The stock has a market capitalization of $74.57 billion, a P/E ratio of 18.20, a PEG ratio of 1.67 and a beta of 1.54. The stock’s 50-day simple moving average is $448.65 and its 200 day simple moving average is $449.03.
BlackRock (NYSE:BLK) last issued 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. BlackRock had a return on equity of 13.00% and a net margin of 29.31%. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the business earned $7.52 earnings per share. The company’s revenue was up 3.2% compared to the same quarter last year. On average, research analysts anticipate that BlackRock, Inc. will post 27.55 earnings per share for the current year.
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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