Thoroughbred Financial Services LLC grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.5% during the first quarter, Holdings Channel reports. The fund owned 953 shares of the asset manager’s stock after buying an additional 32 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in BlackRock were worth $407,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James & Associates boosted its holdings in shares of BlackRock by 7.6% during the 4th quarter. Raymond James & Associates now owns 166,642 shares of the asset manager’s stock valued at $65,467,000 after acquiring an additional 11,811 shares during the last quarter. Smith Moore & CO. lifted its stake in shares of BlackRock by 14.6% in the 4th quarter. Smith Moore & CO. now owns 590 shares of the asset manager’s stock worth $232,000 after purchasing an additional 75 shares during the period. Morningstar Investment Services LLC lifted its stake in shares of BlackRock by 108.6% in the 4th quarter. Morningstar Investment Services LLC now owns 83,769 shares of the asset manager’s stock worth $32,906,000 after purchasing an additional 43,614 shares during the period. Rockland Trust Co. lifted its stake in shares of BlackRock by 3.5% in the 1st quarter. Rockland Trust Co. now owns 15,712 shares of the asset manager’s stock worth $6,715,000 after purchasing an additional 531 shares during the period. Finally, JGP Wealth Management LLC lifted its stake in shares of BlackRock by 37.0% in the 4th quarter. JGP Wealth Management LLC now owns 8,887 shares of the asset manager’s stock worth $3,491,000 after purchasing an additional 2,398 shares during the period. 83.79% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on BLK shares. Argus reiterated a “buy” rating on shares of BlackRock in a research note on Thursday, January 17th. Credit Suisse Group reiterated a “buy” rating and issued a $532.00 price objective on shares of BlackRock in a research note on Thursday, January 17th. Jefferies Financial Group upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $405.36 price objective on the stock in a research note on Tuesday, January 29th. Morgan Stanley set a $515.00 price objective on shares of BlackRock and gave the stock a “buy” rating in a research note on Friday, February 8th. Finally, Barclays increased their price objective on shares of BlackRock from $455.00 to $472.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 19th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $509.38.
NYSE BLK traded down $1.97 on Friday, reaching $445.27. 9,759 shares of the stock were exchanged, compared to its average volume of 503,144. BlackRock, Inc. has a one year low of $360.79 and a one year high of $557.00. The stock has a market cap of $70.00 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 1.60 and a beta of 1.44. The company has a current ratio of 3.49, a quick ratio of 3.49 and a debt-to-equity ratio of 0.83.
BlackRock (NYSE:BLK) last released its earnings results on Tuesday, April 16th. The asset manager reported $6.61 EPS for the quarter, topping analysts’ consensus estimates of $6.13 by $0.48. BlackRock had a net margin of 30.58% and a return on equity of 13.46%. The company had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.30 billion. During the same quarter last year, the business earned $6.48 EPS. The firm’s revenue was down 6.6% compared to the same quarter last year. Sell-side analysts forecast that BlackRock, Inc. will post 27.78 EPS for the current year.
In other BlackRock news, insider Jeff A. Smith sold 75 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $479.40, for a total transaction of $35,955.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Laurence Fink sold 31,250 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $481.79, for a total transaction of $15,055,937.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,658 shares of company stock worth $18,864,994. 1.42% of the stock is owned by company 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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