First Trust Advisors LP Cuts Stake in BlackRock Inc. (BLK)
First Trust Advisors LP lowered its position in BlackRock Inc. (NYSE:BLK) by 0.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,746 shares of the company’s stock after selling 132 shares during the period. First Trust Advisors LP’s holdings in BlackRock were worth $15,856,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. FirstMerit Bank N A Trustee increased its stake in BlackRock by 0.3% in the second quarter. FirstMerit Bank N A Trustee now owns 17,082 shares of the company’s stock worth $5,851,000 after buying an additional 59 shares during the period. Hollencrest Securities LLC increased its stake in BlackRock by 1.4% in the second quarter. Hollencrest Securities LLC now owns 1,783 shares of the company’s stock worth $611,000 after buying an additional 25 shares during the period. Trust Co increased its stake in BlackRock by 7.7% in the first quarter. Trust Co now owns 3,181 shares of the company’s stock worth $1,083,000 after buying an additional 228 shares during the period. Chevy Chase Trust Holdings Inc. increased its stake in BlackRock by 0.9% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 113,237 shares of the company’s stock worth $38,787,000 after buying an additional 1,003 shares during the period. Finally, Exxonmobil Investment Management Inc. TX increased its stake in BlackRock by 5.9% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 32,561 shares of the company’s stock worth $11,153,000 after buying an additional 1,826 shares during the period. 80.70% of the stock is owned by hedge funds and other institutional investors.
BlackRock Inc. (NYSE:BLK) traded down 0.92% during midday trading on Monday, reaching $370.24. 340,315 shares of the company were exchanged. BlackRock Inc. has a 52 week low of $280.55 and a 52 week high of $380.30. The firm has a market capitalization of $60.67 billion, a PE ratio of 19.45 and a beta of 1.65. The company has a 50-day moving average of $356.23 and a 200 day moving average of $358.33.
BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 18th. The company reported $5.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.98 by $0.16. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $1.01 billion. BlackRock had a net margin of 28.59% and a return on equity of 11.04%. BlackRock’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.00 EPS. Equities analysts predict that BlackRock Inc. will post $19.25 earnings per share for the current year.
BLK has been the subject of a number of research reports. Vetr upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $382.97 price target for the company in a report on Wednesday, August 10th. Citigroup Inc. reissued a “buy” rating and issued a $400.00 price target on shares of BlackRock in a research report on Monday, October 10th. Deutsche Bank AG boosted their price objective on shares of BlackRock from $412.00 to $418.00 and gave the company a “buy” rating in a research note on Wednesday, October 5th. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $410.00 price objective for the company in a research note on Monday, September 19th. Finally, Goldman Sachs Group Inc. cut shares of BlackRock from a “conviction-buy” rating to a “buy” rating and boosted their price objective for the company from $390.00 to $400.00 in a research note on Monday, August 8th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. BlackRock has an average rating of “Buy” and an average target price of $387.80.
In related news, Director William S. Demchak purchased 1,200 shares of the stock in a transaction on Thursday, October 27th. The shares were purchased at an average cost of $341.11 per share, with a total value of $409,332.00. Following the acquisition, the director now directly owns 1,200 shares in the company, valued at $409,332. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark Mccombe sold 1,400 shares of the stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $374.92, for a total transaction of $524,888.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.
BlackRock Company Profile
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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