BTC Capital Management Inc. lifted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,942 shares of the asset manager’s stock after purchasing an additional 395 shares during the quarter. BTC Capital Management Inc.’s holdings in BlackRock were worth $5,761,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in BLK. Virtus ETF Advisers LLC purchased a new position in BlackRock in the 2nd quarter valued at approximately $27,000. Massey Quick Simon & CO. LLC bought a new position in BlackRock in the 2nd quarter valued at $31,000. MRA Associates USA LLC bought a new position in BlackRock in the 2nd quarter valued at $33,000. SRS Capital Advisors Inc. bought a new position in BlackRock in the 2nd quarter valued at $33,000. Finally, Ellevest Inc. boosted its holdings in BlackRock by 89.2% in the 2nd quarter. Ellevest Inc. now owns 70 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 33 shares during the period. 81.96% of the stock is currently owned by institutional investors.
Shares of NYSE BLK traded up $0.05 during midday trading on Friday, hitting $490.21. The stock had a trading volume of 348,812 shares, compared to its average volume of 571,106. The company has a market cap of $74.57 billion, a P/E ratio of 18.20, a PEG ratio of 1.67 and a beta of 1.54. The business’s 50 day moving average is $448.65 and its 200-day moving average is $449.03. BlackRock, Inc. has a 52 week low of $360.79 and a 52 week high of $495.39. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 0.77.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, October 15th. The asset manager reported $7.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $6.95 by $0.20. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.69 billion. BlackRock had a net margin of 29.31% and a return on equity of 13.00%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.52 earnings per share. As a group, analysts expect that BlackRock, Inc. will post 27.55 EPS for the current fiscal year.
In related news, Director J. Richard Kushel sold 2,000 shares of BlackRock stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $446.74, for a total transaction of $893,480.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jerkovic Milan 2,522,596 shares of BlackRock stock in a transaction on Wednesday, October 9th. 1.42% of the stock is owned by company insiders.
Several research analysts have commented on BLK shares. Wells Fargo & Co reissued a “hold” rating on shares of BlackRock in a report on Tuesday, October 15th. ValuEngine downgraded shares of BlackRock from a “hold” rating to a “sell” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Deutsche Bank raised shares of BlackRock from a “hold” rating to a “buy” rating and boosted their price target for the stock from $465.00 to $543.00 in a research note on Wednesday. Finally, Credit Suisse Group set a $567.00 price objective on shares of BlackRock and gave the company a “buy” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. BlackRock presently has an average rating of “Buy” and a consensus target price of $507.10.
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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