Bessemer Group Inc. boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 194.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,599 shares of the asset manager’s stock after buying an additional 8,988 shares during the period. Bessemer Group Inc.’s holdings in BlackRock were worth $6,080,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Salem Investment Counselors Inc. raised its holdings in 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 period. Enterprise Financial Services Corp raised its holdings in BlackRock by 52.5% during the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after buying an additional 85 shares during the period. Penserra Capital Management LLC acquired a new stake in BlackRock during the 2nd quarter worth about $104,000. Proficio Capital Partners LLC raised its holdings in BlackRock by 48.9% during the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after buying an additional 85 shares during the period. Finally, Harfst & Associates Inc. raised its holdings in BlackRock by 17.3% during the 2nd quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock worth $111,000 after buying an additional 39 shares during the period. Hedge funds and other institutional investors own 82.30% of the company’s stock.
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BlackRock, Inc. (NYSE:BLK) opened at $465.83 on Friday. The firm has a market capitalization of $75,276.73, a PE ratio of 21.62, a PEG ratio of 1.61 and a beta of 1.79. BlackRock, Inc. has a twelve month low of $365.83 and a twelve month high of $489.79. The company has a quick ratio of 3.22, a current ratio of 2.89 and a debt-to-equity ratio of 1.09.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.49 by $0.43. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.14 EPS. sell-side analysts forecast that BlackRock, Inc. will post 22.29 earnings per share for the current fiscal year.
BLK has been the topic of several recent analyst reports. Goldman Sachs Group, Inc. (The) upgraded BlackRock from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $440.00 to $500.00 in a report on Thursday, September 28th. Wells Fargo & Company restated a “market perform” rating and set a $475.00 price objective (up previously from $450.00) on shares of BlackRock in a report on Thursday, October 12th. Barclays PLC initiated coverage on BlackRock in a report on Friday, September 8th. They set an “overweight” rating and a $475.00 price objective on the stock. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price objective on the stock in a report on Tuesday, October 3rd. Finally, Jefferies Group LLC restated a “hold” rating and set a $440.00 price objective on shares of BlackRock in a report on Tuesday, September 26th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. BlackRock currently has a consensus rating of “Buy” and an average price target of $489.08.
In related news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total value of $1,526,264.25. The disclosure for this sale can be found here. In the last three months, insiders sold 4,775 shares of company stock valued at $2,053,412. 1.86% of the stock is currently owned by company insiders.
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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