Covington Investment Advisors Inc. Has $4.44 Million Holdings in BlackRock, Inc. (BLK)
Covington Investment Advisors Inc. trimmed its position in BlackRock, Inc. (NYSE:BLK) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,932 shares of the asset manager’s stock after selling 108 shares during the period. BlackRock accounts for 1.7% of Covington Investment Advisors Inc.’s investment portfolio, making the stock its 23rd biggest position. Covington Investment Advisors Inc.’s holdings in BlackRock were worth $4,440,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Everett Harris & Co. CA boosted its holdings in BlackRock by 9.2% in the 2nd quarter. Everett Harris & Co. CA now owns 100,143 shares of the asset manager’s stock valued at $42,301,000 after purchasing an additional 8,478 shares during the period. Aperio Group LLC boosted its holdings in BlackRock by 8.6% in the 3rd quarter. Aperio Group LLC now owns 68,737 shares of the asset manager’s stock valued at $30,732,000 after purchasing an additional 5,451 shares during the period. Canada Pension Plan Investment Board boosted its holdings in BlackRock by 48.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 101,703 shares of the asset manager’s stock valued at $42,960,000 after purchasing an additional 33,400 shares during the period. Honkamp Krueger Financial Services Inc. bought a new position in BlackRock in the 3rd quarter valued at $222,000. Finally, Blue Chip Partners Inc. boosted its holdings in BlackRock by 8.5% in the 2nd quarter. Blue Chip Partners Inc. now owns 13,440 shares of the asset manager’s stock valued at $5,677,000 after purchasing an additional 1,055 shares during the period. 82.30% of the stock is owned by hedge funds and other institutional investors.
Shares of BlackRock, Inc. (NYSE:BLK) traded down $3.50 during trading hours on Tuesday, reaching $475.61. 236,463 shares of the company were exchanged, compared to its average volume of 522,287. The stock has a market cap of $76,860.00, a PE ratio of 22.23, a PEG ratio of 1.65 and a beta of 1.79. BlackRock, Inc. has a one year low of $349.04 and a one year high of $489.79. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.22 and a current ratio of 3.22.
BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, topping analysts’ consensus estimates of $5.49 by $0.43. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.09%. The firm’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company earned $5.14 EPS. equities research analysts predict that BlackRock, Inc. will post 22.29 EPS for the current fiscal year.
Several research analysts have commented on BLK shares. Deutsche Bank AG reissued a “buy” rating and issued a $455.00 price target (down from $465.00) on shares of BlackRock in a report on Tuesday, July 18th. BidaskClub downgraded shares of BlackRock from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Goldman Sachs Group, Inc. (The) raised shares of BlackRock from a “neutral” rating to a “buy” rating and raised their price target for the company from $440.00 to $500.00 in a report on Thursday, September 28th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price objective on the stock in a research report on Tuesday, October 3rd. Finally, Jefferies Group LLC restated a “hold” rating and set a $440.00 price objective on shares of BlackRock in a research report on Tuesday, September 26th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $489.08.
In other BlackRock news, Director J. Richard Kushel sold 100 shares of the business’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $481.58, for a total value of $48,158.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,775 shares of company stock worth $2,053,412. 1.86% of the stock is owned by corporate insiders.
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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