BlackRock Inc. (BLK) Shares Bought by Sentry Investment Management LLC
Sentry Investment Management LLC boosted its stake in shares of BlackRock Inc. (NYSE:BLK) by 2.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,011 shares of the company’s stock after buying an additional 214 shares during the period. Sentry Investment Management LLC’s holdings in BlackRock were worth $3,629,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of BLK. Cohen & Steers Inc. raised its position in 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 in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of BlackRock during the second quarter valued at approximately $87,641,000. JPMorgan Chase & Co. raised its position 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 position 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 position 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. Institutional investors and hedge funds own 80.70% of the company’s stock.
Shares of BlackRock Inc. (NYSE:BLK) traded down 0.03% during trading on Tuesday, reaching $368.55. 694,626 shares of the company traded hands. BlackRock Inc. has a 12 month low of $280.55 and a 12 month high of $380.30. The stock has a market capitalization of $60.39 billion, a PE ratio of 19.36 and a beta of 1.65. The company has a 50-day moving average of $356.56 and a 200-day moving average of $358.44.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, October 18th. The company reported $5.14 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.16. BlackRock had a net margin of 28.59% and a return on equity of 11.04%. The company earned $2.84 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $5.00 earnings per share. BlackRock’s revenue was down 2.5% compared to the same quarter last year. Analysts forecast that BlackRock Inc. will post $19.25 earnings per share for the current fiscal year.
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BLK has been the topic of several analyst reports. Vetr upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $382.97 price target on the stock in a research note on Wednesday, August 10th. Citigroup Inc. restated a “buy” rating and set a $400.00 price target on shares of BlackRock in a research note on Monday, October 10th. Deutsche Bank AG increased 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. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $410.00 price target on the stock in a research note on Monday, September 19th. Finally, Goldman Sachs Group Inc. lowered shares of BlackRock from a “conviction-buy” rating to a “buy” rating and increased their price target for the stock from $390.00 to $400.00 in a research note on Monday, August 8th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $387.80.
In other news, insider Jeff A. Smith sold 125 shares of the firm’s stock in a transaction that occurred on Wednesday, October 19th. The shares were sold at an average price of $355.22, for a total value of $44,402.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William S. Demchak bought 1,200 shares of the company’s stock in a transaction on Thursday, October 27th. The shares were bought at an average price of $341.11 per share, with a total value of $409,332.00. Following the completion of the transaction, the director now owns 1,200 shares of the company’s stock, valued at $409,332. The disclosure for this purchase can be found here. 2.20% of the stock is currently owned by insiders.
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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