BBVA USA Bancshares Inc. decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 9.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,117 shares of the asset manager’s stock after selling 527 shares during the quarter. BBVA USA Bancshares Inc.’s holdings in BlackRock were worth $2,877,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in BLK. CX Institutional increased its holdings in shares of BlackRock by 13.0% during the third quarter. CX Institutional now owns 139 shares of the asset manager’s stock worth $78,000 after buying an additional 16 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of BlackRock by 3.2% during the second quarter. Lindbrook Capital LLC now owns 585 shares of the asset manager’s stock valued at $318,000 after purchasing an additional 18 shares during the last quarter. Lyell Wealth Management LP grew its stake in shares of BlackRock by 2.7% during the second quarter. Lyell Wealth Management LP now owns 683 shares of the asset manager’s stock valued at $372,000 after purchasing an additional 18 shares during the last quarter. Sigma Planning Corp grew its stake in shares of BlackRock by 1.0% during the second quarter. Sigma Planning Corp now owns 1,971 shares of the asset manager’s stock valued at $1,073,000 after purchasing an additional 19 shares during the last quarter. Finally, Smithbridge Asset Management Inc. DE grew its stake in shares of BlackRock by 2.4% during the second quarter. Smithbridge Asset Management Inc. DE now owns 870 shares of the asset manager’s stock valued at $473,000 after purchasing an additional 20 shares during the last quarter. 79.21% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Mark Wiedman sold 360 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $583.20, for a total transaction of $209,952.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.42% of the company’s stock.
Shares of NYSE:BLK opened at $602.33 on Friday. BlackRock, Inc. has a 12 month low of $323.98 and a 12 month high of $666.64. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 0.66. The company’s fifty day simple moving average is $587.66 and its 200 day simple moving average is $553.89. The firm has a market cap of $91.85 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 2.20 and a beta of 1.23.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Sunday, October 18th. The asset manager reported $9.22 EPS for the quarter, topping analysts’ consensus estimates of $7.45 by $1.77. BlackRock had a net margin of 29.83% and a return on equity of 15.00%. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the business posted $7.15 earnings per share. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. Research analysts expect that BlackRock, Inc. will post 32.06 earnings per share for the current fiscal year.
Several research firms have recently commented on BLK. Zacks Investment Research cut shares of BlackRock from a “strong-buy” rating to a “hold” rating and set a $609.00 price target on the stock. in a research note on Tuesday, July 21st. Bank of America raised their price objective on shares of BlackRock from $633.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Morgan Stanley raised their price objective on shares of BlackRock from $652.00 to $686.00 and gave the company an “overweight” rating in a research note on Friday, October 9th. BMO Capital Markets raised their price objective on shares of BlackRock from $594.00 to $602.00 and gave the company a “market perform” rating in a research note on Thursday, October 15th. They noted that the move was a valuation call. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of BlackRock in a research note on Wednesday, October 14th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $635.42.
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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