Rothschild & Co. Asset Management US Inc. boosted its position in BlackRock, Inc. (NYSE:BLK) by 167.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,946 shares of the asset manager’s stock after acquiring an additional 48,143 shares during the quarter. BlackRock accounts for 0.8% of Rothschild & Co. Asset Management US Inc.’s holdings, making the stock its 18th largest holding. Rothschild & Co. Asset Management US Inc.’s holdings in BlackRock were worth $43,364,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BLK. Vanguard Group Inc. lifted its holdings in BlackRock by 40.2% during the 2nd quarter. Vanguard Group Inc. now owns 12,955,301 shares of the asset manager’s stock worth $7,048,850,000 after purchasing an additional 3,714,710 shares in the last quarter. BlackRock Inc. raised its stake in BlackRock by 21.0% during the 2nd quarter. BlackRock Inc. now owns 9,986,435 shares of the asset manager’s stock worth $5,433,521,000 after acquiring an additional 1,731,325 shares during the period. FMR LLC raised its stake in BlackRock by 182.3% during the 2nd quarter. FMR LLC now owns 3,699,444 shares of the asset manager’s stock worth $2,012,831,000 after acquiring an additional 2,388,836 shares during the period. Wells Fargo & Company MN raised its stake in BlackRock by 0.4% during the 3rd quarter. Wells Fargo & Company MN now owns 2,316,168 shares of the asset manager’s stock worth $1,305,276,000 after acquiring an additional 9,153 shares during the period. Finally, Morgan Stanley raised its stake in BlackRock by 2.0% during the 1st quarter. Morgan Stanley now owns 2,187,760 shares of the asset manager’s stock worth $962,549,000 after acquiring an additional 43,802 shares during the period. Hedge funds and other institutional investors own 79.21% of the company’s stock.
Shares of BLK traded down $5.47 during midday trading on Tuesday, hitting $670.96. 2,941 shares of the company traded hands, compared to its average volume of 930,265. The firm has a 50 day moving average of $622.04 and a 200-day moving average of $569.35. BlackRock, Inc. has a 52 week low of $323.98 and a 52 week high of $692.73. The stock has a market cap of $103.16 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 2.27 and a beta of 1.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.01.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Sunday, October 18th. The asset manager reported $9.22 EPS for the quarter, beating the consensus estimate of $7.45 by $1.77. The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $3.89 billion. BlackRock had a net margin of 29.83% and a return on equity of 14.91%. The business’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.15 EPS. Sell-side analysts predict that BlackRock, Inc. will post 32.1 earnings per share for the current fiscal year.
A number of equities research analysts have commented on BLK shares. Morgan Stanley raised their target price on shares of BlackRock from $652.00 to $686.00 and gave the stock an “overweight” rating in a research note on Friday, October 9th. Zacks Investment Research lowered shares of BlackRock from a “strong-buy” rating to a “hold” rating and set a $609.00 price objective for the company. in a report on Tuesday, July 21st. Barclays boosted their target price on shares of BlackRock from $625.00 to $700.00 in a report on Wednesday, October 14th. Citigroup raised their target price on shares of BlackRock from $690.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. Finally, Argus boosted their price target on shares of BlackRock from $530.00 to $640.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. BlackRock currently has a consensus rating of “Buy” and an average price target of $644.58.
In other news, General Counsel Christopher J. Meade sold 699 shares of the company’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $669.79, for a total transaction of $468,183.21. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Wiedman sold 3,850 shares of the company’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $626.47, for a total transaction of $2,411,909.50. The disclosure for this sale can be found here. 1.42% of the stock is currently owned by corporate insiders.
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.
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