Viking Fund Management LLC reduced its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 29.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,500 shares of the asset manager’s stock after selling 2,300 shares during the quarter. Viking Fund Management LLC’s holdings in BlackRock were worth $2,459,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in BLK. Salem Investment Counselors Inc. lifted its position in shares of BlackRock by 14.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock worth $101,000 after buying an additional 30 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in BlackRock by 48.9% in the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after purchasing an additional 85 shares in the last quarter. Enterprise Financial Services Corp increased its holdings in BlackRock by 52.5% in the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after purchasing an additional 85 shares in the last quarter. Penserra Capital Management LLC acquired a new position in BlackRock in the 2nd quarter worth about $104,000. Finally, Kings Point Capital Management increased its holdings in BlackRock by 34.5% in the 1st quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.
In other news, insider Mark Mccombe sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $478.99, for a total value of $478,990.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director J. Richard Kushel sold 100 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $481.58, for a total value of $48,158.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,025 shares of company stock worth $2,162,130. Insiders own 1.86% of the company’s stock.
Shares of BlackRock, Inc. (NYSE BLK) traded up 0.349% on Monday, reaching $478.285. The company’s stock had a trading volume of 51,535 shares. The company’s 50 day moving average price is $445.93 and its 200 day moving average price is $419.03. The company has a market cap of $77.29 billion, a P/E ratio of 22.403 and a beta of 1.72. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $489.79.
BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, topping analysts’ consensus estimates of $5.49 by $0.43. BlackRock had a return on equity of 12.09% and a net margin of 29.52%. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the business earned $5.14 EPS. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. Analysts forecast that BlackRock, Inc. will post $22.36 EPS for the current fiscal year.
A number of equities analysts have issued reports on BLK shares. BidaskClub raised BlackRock from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Barclays PLC upped their target price on BlackRock from $475.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, October 10th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $475.00 target price (up previously from $450.00) on shares of BlackRock in a report on Thursday, October 12th. Morgan Stanley reissued an “overweight” rating and issued a $460.00 price target (up previously from $422.00) on shares of BlackRock in a research note on Monday, July 10th. Finally, J P Morgan Chase & Co increased their price target on BlackRock to $558.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. BlackRock has an average rating of “Buy” and an average price target of $489.08.
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BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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