Fluent Financial LLC lessened its stake in BlackRock, Inc. (NYSE:BLK) by 10.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,581 shares of the asset manager’s stock after selling 317 shares during the period. Fluent Financial LLC’s holdings in BlackRock were worth $1,455,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of BlackRock by 40.2% in the second quarter. Vanguard Group Inc. now owns 12,955,301 shares of the asset manager’s stock worth $7,048,850,000 after acquiring an additional 3,714,710 shares during the period. FMR LLC raised its holdings in BlackRock by 182.3% during the 2nd quarter. FMR LLC now owns 3,699,444 shares of the asset manager’s stock worth $2,012,831,000 after purchasing an additional 2,388,836 shares during the last quarter. BlackRock Inc. lifted its position in shares of BlackRock by 21.0% in the 2nd quarter. BlackRock Inc. now owns 9,986,435 shares of the asset manager’s stock worth $5,433,521,000 after purchasing an additional 1,731,325 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of BlackRock by 929.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 646,983 shares of the asset manager’s stock valued at $352,017,000 after purchasing an additional 584,108 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of BlackRock by 57.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,583,232 shares of the asset manager’s stock valued at $861,421,000 after purchasing an additional 577,342 shares during the last quarter. 79.21% of the stock is owned by institutional investors.
Several research firms recently issued reports on BLK. Deutsche Bank Aktiengesellschaft boosted their target price on shares of BlackRock from $661.00 to $685.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley raised their target price on BlackRock from $652.00 to $686.00 and gave the stock an “overweight” rating in a research note on Friday, October 9th. Bank of America lifted their target price on BlackRock from $633.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, July 20th. BMO Capital Markets increased their price target on BlackRock from $594.00 to $602.00 and gave the stock a “market perform” rating in a report on Thursday. They noted that the move was a valuation call. Finally, Argus lifted their price objective on shares of BlackRock from $530.00 to $640.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. BlackRock presently has a consensus rating of “Buy” and an average price target of $635.42.
NYSE BLK traded up $11.14 during mid-day trading on Friday, hitting $657.38. The company’s stock had a trading volume of 765,555 shares, compared to its average volume of 966,601. The company’s 50 day simple moving average is $573.97 and its 200 day simple moving average is $541.06. BlackRock, Inc. has a twelve month low of $323.98 and a twelve month high of $659.57. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $100.24 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 2.67 and a beta of 1.23.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Sunday, October 18th. The asset manager reported $9.22 earnings per share for the quarter, beating analysts’ consensus estimates of $7.45 by $1.77. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $3.89 billion. BlackRock had a net margin of 29.55% and a return on equity of 14.17%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period last year, the firm earned $7.15 earnings per share. As a group, research analysts forecast that BlackRock, Inc. will post 30.41 EPS for the current year.
In related news, Director Mark Mccombe sold 3,000 shares of BlackRock stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $580.16, for a total transaction of $1,740,480.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 41,706 shares of the company’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $580.29, for a total value of $24,201,574.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,248 shares of company stock worth $27,405,326. 1.42% of the stock is owned by insiders.
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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