Lakeview Capital Partners LLC increased its position in BlackRock, Inc. (NYSE:BLK) by 26.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 588 shares of the asset manager’s stock after purchasing an additional 123 shares during the period. Lakeview Capital Partners LLC’s holdings in BlackRock were worth $262,000 as of its most recent SEC filing.
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Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BLK. Virtus ETF Advisers LLC purchased a new stake in shares of BlackRock in the second quarter worth $27,000. Garrett Wealth Advisory Group LLC purchased a new stake in shares of BlackRock during the third quarter worth about $30,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of BlackRock during the second quarter worth about $31,000. MRA Associates USA LLC purchased a new stake in shares of BlackRock during the second quarter worth about $33,000. Finally, SRS Capital Advisors Inc. purchased a new stake in shares of BlackRock during the second quarter worth about $33,000. 81.96% of the stock is currently owned by hedge funds and other institutional investors.
BLK has been the subject of several research analyst reports. Wells Fargo & Co reiterated a “hold” rating on shares of BlackRock in a research report on Tuesday, October 15th. JPMorgan Chase & Co. cut their price target on BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Barclays restated a “buy” rating and set a $485.00 price target on shares of BlackRock in a report on Wednesday, October 9th. ValuEngine cut BlackRock from a “hold” rating to a “sell” rating in a report on Thursday, October 10th. Finally, BMO Capital Markets initiated coverage on BlackRock in a report on Monday, October 7th. They set a “market perform” rating and a $547.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $507.10.
In other news, Director J. Richard Kushel sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $446.74, for a total value of $893,480.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jerkovic Milan 3,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. 1.42% of the stock is owned by company insiders.
NYSE BLK traded up $0.05 during trading on Friday, hitting $490.21. 348,812 shares of the stock traded hands, compared to its average volume of 571,106. The company has a market capitalization of $74.57 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 1.67 and a beta of 1.54. The firm has a 50-day simple moving average of $448.65 and a 200-day simple moving average of $449.03. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 0.77. BlackRock, Inc. has a 12-month low of $360.79 and a 12-month high of $495.39.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, October 15th. The asset manager reported $7.15 earnings per share for the quarter, beating the consensus estimate of $6.95 by $0.20. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.69 billion. BlackRock had a return on equity of 13.00% and a net margin of 29.31%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $7.52 EPS. As a group, research analysts predict that BlackRock, Inc. will post 27.55 EPS for the current fiscal year.
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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