Godsey & Gibb Associates Has $14.58 Million Stake in BlackRock, Inc. (BLK)
Godsey & Gibb Associates decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 5.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,614 shares of the asset manager’s stock after selling 1,874 shares during the quarter. BlackRock accounts for approximately 2.5% of Godsey & Gibb Associates’ portfolio, making the stock its 11th largest holding. Godsey & Gibb Associates’ holdings in BlackRock were worth $14,581,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of BLK. Salem Investment Counselors Inc. grew its stake in shares of BlackRock by 14.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock worth $101,000 after purchasing an additional 30 shares during the period. Proficio Capital Partners LLC grew its stake in shares of BlackRock by 48.9% during the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after purchasing an additional 85 shares during the period. Enterprise Financial Services Corp grew its stake in shares of BlackRock by 52.5% during the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after purchasing an additional 85 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of BlackRock during the 2nd quarter worth approximately $104,000. Finally, Harfst & Associates Inc. grew its stake in shares of BlackRock by 17.3% during the 2nd quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock worth $111,000 after purchasing an additional 39 shares during the period. 82.30% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the stock. Deutsche Bank AG reissued a “buy” rating and issued a $455.00 price target (down previously from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. BidaskClub cut shares of BlackRock from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price target on the stock in a research note on Tuesday, October 3rd. Goldman Sachs Group, Inc. (The) raised shares of BlackRock from a “neutral” rating to a “buy” rating and lifted their price target for the company from $440.00 to $500.00 in a research note on Thursday, September 28th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $440.00 price target on shares of BlackRock in a research note on Tuesday, September 26th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. BlackRock presently has a consensus rating of “Buy” and an average price target of $489.08.
In other news, insider Mark Mccombe sold 1,000 shares of BlackRock stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $478.99, for a total transaction of $478,990.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director J. Richard Kushel sold 100 shares of BlackRock stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $481.58, for a total value of $48,158.00. The disclosure for this sale can be found here. Insiders sold a total of 4,775 shares of company stock worth $2,053,412 in the last 90 days. 1.86% of the stock is currently owned by insiders.
Shares of BlackRock, Inc. (NYSE BLK) traded down $1.36 during mid-day trading on Friday, reaching $465.24. The company’s stock had a trading volume of 117,662 shares, compared to its average volume of 517,801. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 1.06. The stock has a market cap of $74,380.00, a price-to-earnings ratio of 21.91, a P/E/G ratio of 1.63 and a beta of 1.79. BlackRock, Inc. has a 12 month low of $365.83 and a 12 month high of $489.79.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, beating analysts’ consensus estimates of $5.49 by $0.43. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. BlackRock had a return on equity of 12.09% and a net margin of 29.52%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the firm posted $5.14 EPS. equities research analysts predict that BlackRock, Inc. will post 22.29 earnings per share for the current year.
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BlackRock Company Profile
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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