Chemical Bank boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,729 shares of the asset manager’s stock after purchasing an additional 187 shares during the period. Chemical Bank’s holdings in BlackRock were worth $2,229,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BLK. Truvestments Capital LLC bought a new stake in BlackRock during the third quarter valued at about $116,000. AlphaMark Advisors LLC bought a new stake in BlackRock during the second quarter valued at about $147,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in BlackRock during the second quarter valued at about $150,000. Kaizen Advisory LLC raised its holdings in BlackRock by 156.7% during the second quarter. Kaizen Advisory LLC now owns 308 shares of the asset manager’s stock valued at $154,000 after acquiring an additional 188 shares during the period. Finally, Canton Hathaway LLC bought a new stake in BlackRock during the third quarter valued at about $146,000. Institutional investors own 82.65% of the company’s stock.
In other news, Director William E. Ford bought 2,000 shares of BlackRock stock in a transaction dated Wednesday, October 17th. The shares were purchased at an average cost of $409.59 per share, with a total value of $819,180.00. Following the completion of the acquisition, the director now owns 7,466 shares of the company’s stock, valued at approximately $3,057,998.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.86% of the company’s stock.
Shares of BLK stock opened at $413.95 on Friday. BlackRock, Inc. has a 12-month low of $376.31 and a 12-month high of $594.52. The company has a current ratio of 3.87, a quick ratio of 3.87 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $67.78 billion, a PE ratio of 15.66, a PEG ratio of 1.27 and a beta of 1.54.
BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 16th. The asset manager reported $7.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.93 by $0.59. BlackRock had a return on equity of 13.76% and a net margin of 39.92%. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the previous year, the firm posted $5.76 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. As a group, analysts predict that BlackRock, Inc. will post 27.71 EPS for the current year.
A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods raised BlackRock from a “market perform” rating to an “outperform” rating and set a $590.00 price target on the stock in a report on Friday, July 13th. Barclays decreased their price target on BlackRock from $615.00 to $595.00 and set an “overweight” rating on the stock in a report on Tuesday, July 17th. Goldman Sachs Group decreased their price target on BlackRock to $570.00 and set a “buy” rating on the stock in a report on Tuesday, July 17th. Zacks Investment Research cut BlackRock from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Finally, Deutsche Bank raised their price target on BlackRock from $549.00 to $559.00 and gave the company a “buy” rating in a report on Thursday, September 27th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $569.08.
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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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