Exxonmobil Investment Management Inc. TX reduced its stake in shares of BlackRock Inc. (NYSE:BLK) by 4.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,153 shares of the company’s stock after selling 1,408 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in BlackRock were worth $11,292,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Cohen & Steers Inc. raised its stake in shares of BlackRock by 5,080.7% in the second quarter. Cohen & Steers Inc. now owns 1,484,377 shares of the company’s stock valued at $38,371,000 after buying an additional 1,455,725 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of BlackRock during the second quarter valued at about $87,641,000. JPMorgan Chase & Co. raised its stake in shares of BlackRock by 7.0% in the second quarter. JPMorgan Chase & Co. now owns 3,372,334 shares of the company’s stock valued at $1,155,126,000 after buying an additional 219,654 shares during the period. Alleghany Corp DE raised its stake in shares of BlackRock by 77.8% in the second quarter. Alleghany Corp DE now owns 400,000 shares of the company’s stock valued at $136,984,000 after buying an additional 175,000 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of BlackRock by 2.1% in the second quarter. Vanguard Group Inc. now owns 7,326,122 shares of the company’s stock valued at $2,509,417,000 after buying an additional 150,093 shares during the period. Hedge funds and other institutional investors own 80.85% of the company’s stock.

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

BlackRock Inc. (NYSE:BLK) traded up 0.48% during midday trading on Monday, hitting $374.57. The stock had a trading volume of 375,640 shares. The company has a 50-day moving average price of $354.98 and a 200-day moving average price of $357.96. The company has a market cap of $61.38 billion, a price-to-earnings ratio of 19.68 and a beta of 1.65. BlackRock Inc. has a 12-month low of $280.55 and a 12-month high of $380.30.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, October 18th. The company reported $5.14 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.16. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $1.01 billion. BlackRock had a return on equity of 11.04% and a net margin of 28.59%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business posted $5.00 EPS. Equities analysts anticipate that BlackRock Inc. will post $19.26 EPS for the current year.

A number of analysts have issued reports on BLK shares. Deutsche Bank AG boosted their price target on shares of BlackRock from $412.00 to $418.00 and gave the stock a “buy” rating in a research note on Wednesday, October 5th. Citigroup Inc. reiterated a “buy” rating and set a $400.00 price target on shares of BlackRock in a research note on Monday, October 10th. Wells Fargo & Co. reiterated a “market perform” rating on shares of BlackRock in a research note on Monday, October 10th. Goldman Sachs Group Inc. lowered shares of BlackRock from a “conviction-buy” rating to a “buy” rating and boosted their price target for the stock from $390.00 to $400.00 in a research note on Monday, August 8th. Finally, Zacks Investment Research upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $387.80.

In related news, Director James Grosfeld sold 25,710 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $372.97, for a total transaction of $9,589,058.70. Following the sale, the director now directly owns 514,402 shares in the company, valued at approximately $191,856,513.94. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark Mccombe sold 1,400 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $374.92, for a total value of $524,888.00. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

About BlackRock

BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.

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