Smithfield Trust Co. lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 52.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 299 shares of the asset manager’s stock after selling 330 shares during the quarter. Smithfield Trust Co.’s holdings in BlackRock were worth $141,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in BlackRock during the 3rd quarter valued at $116,000. Canton Hathaway LLC purchased a new stake in BlackRock during the 3rd quarter valued at $146,000. AlphaMark Advisors LLC purchased a new stake in BlackRock during the 2nd quarter valued at $147,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in BlackRock during the 2nd quarter valued at $150,000. Finally, Kaizen Advisory LLC lifted its position in shares of BlackRock by 156.7% in the 2nd quarter. Kaizen Advisory LLC now owns 308 shares of the asset manager’s stock worth $154,000 after purchasing an additional 188 shares during the period. 82.65% of the stock is owned by institutional investors and hedge funds.
NYSE:BLK opened at $413.95 on Friday. BlackRock, Inc. has a 12 month low of $376.31 and a 12 month high of $594.52. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.87 and a quick ratio of 3.87. The stock has a market capitalization of $67.78 billion, a PE ratio of 15.66, a P/E/G ratio of 1.27 and a beta of 1.54.
BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, October 16th. The asset manager reported $7.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $6.93 by $0.59. BlackRock had a net margin of 39.92% and a return on equity of 13.76%. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period last year, the company posted $5.76 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, research analysts forecast that BlackRock, Inc. will post 27.71 earnings per share for the current year.
Several equities research analysts have recently commented on the stock. ValuEngine raised shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Argus dropped their target price on shares of BlackRock from $620.00 to $535.00 and set a “buy” rating for the company in a research report on Wednesday, October 17th. Citigroup dropped their target price on shares of BlackRock to $500.00 and set a “buy” rating for the company in a research report on Wednesday, October 17th. Goldman Sachs Group cut shares of BlackRock from a “conviction-buy” rating to a “buy” rating in a research report on Wednesday, October 17th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and issued a $440.00 target price (down from $510.00) on shares of BlackRock in a research report on Tuesday, October 16th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $569.08.
In other BlackRock news, Director William E. Ford purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 17th. The stock was bought at an average cost of $409.59 per share, for a total transaction of $819,180.00. Following the purchase, the director now directly owns 7,466 shares in the company, valued at $3,057,998.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.86% of the stock is owned by company insiders.
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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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