Bank of Montreal Can Has $203.28 Million Stock Position in BlackRock $BLK

Bank of Montreal Can reduced its position in shares of BlackRock (NYSE:BLK) by 36.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 193,743 shares of the asset manager’s stock after selling 112,637 shares during the quarter. Bank of Montreal Can’s holdings in BlackRock were worth $203,284,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BLK. Royal Bank of Canada lifted its holdings in shares of BlackRock by 73.2% in the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after purchasing an additional 555,098 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of BlackRock by 2.9% in the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock valued at $13,027,419,000 after purchasing an additional 387,466 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of BlackRock by 32.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after purchasing an additional 279,336 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in shares of BlackRock in the second quarter valued at approximately $231,000. Finally, Unisphere Establishment lifted its holdings in shares of BlackRock by 29.2% in the first quarter. Unisphere Establishment now owns 839,500 shares of the asset manager’s stock valued at $794,570,000 after purchasing an additional 189,500 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Down 1.1%

Shares of BlackRock stock opened at $1,070.93 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The stock has a fifty day moving average price of $1,135.59 and a 200-day moving average price of $1,065.08. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94. The firm has a market cap of $165.84 billion, a PE ratio of 27.54, a P/E/G ratio of 1.90 and a beta of 1.45.

BlackRock (NYSE:BLK) last released its earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. During the same period in the prior year, the business earned $11.46 earnings per share. The business’s quarterly revenue was up 25.2% compared to the same quarter last year. Equities research analysts anticipate that BlackRock will post 47.41 EPS for the current year.

Insider Transactions at BlackRock

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the completion of the sale, the director directly owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.98% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BLK. Keefe, Bruyette & Woods raised their target price on BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Zacks Research lowered BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. The Goldman Sachs Group lifted their price target on BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. UBS Group reissued a “hold” rating on shares of BlackRock in a research report on Tuesday, October 21st. Finally, JPMorgan Chase & Co. raised their target price on BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,299.29.

BlackRock Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.