ProVise Management Group LLC lessened its holdings in shares of BlackRock (NYSE:BLK) by 5.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,400 shares of the asset manager’s stock after selling 961 shares during the period. BlackRock accounts for approximately 1.3% of ProVise Management Group LLC’s investment portfolio, making the stock its 17th biggest holding. ProVise Management Group LLC’s holdings in BlackRock were worth $8,884,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bamco Inc. NY acquired a new stake in shares of BlackRock during the 1st quarter worth about $106,000. Princeton Capital Management LLC acquired a new stake in shares of BlackRock during the 1st quarter worth about $115,000. Bray Capital Advisors acquired a new stake in shares of BlackRock during the 1st quarter worth about $128,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of BlackRock during the 1st quarter worth about $139,000. Finally, Assetmark Inc. raised its position in shares of BlackRock by 57.1% during the 4th quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock worth $143,000 after acquiring an additional 101 shares in the last quarter. 84.44% of the stock is currently owned by institutional investors and hedge funds.
BLK has been the topic of several research analyst reports. Credit Suisse Group lifted their price target on BlackRock from $672.00 to $678.00 and gave the stock an “outperform” rating in a research report on Thursday, April 5th. Citigroup lowered BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 price target on the stock. in a research report on Thursday, January 25th. JPMorgan Chase reaffirmed an “overweight” rating and set a $640.00 price target on shares of BlackRock in a research report on Wednesday, March 14th. Deutsche Bank cut their price target on BlackRock to $623.00 and set a “buy” rating on the stock in a research report on Tuesday, March 6th. Finally, ValuEngine lowered BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $566.62.
BlackRock opened at $535.58 on Friday, Marketbeat reports. The company has a market capitalization of $86.10 billion, a PE ratio of 23.70, a P/E/G ratio of 1.61 and a beta of 1.67. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 1.02. BlackRock has a 12-month low of $530.37 and a 12-month high of $536.99.
BlackRock (NYSE:BLK) last released its earnings results on Thursday, April 12th. The asset manager reported $6.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $6.39 by $0.31. The business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. BlackRock had a return on equity of 12.76% and a net margin of 39.22%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.25 earnings per share. equities analysts predict that BlackRock will post 28.06 earnings per share for the current year.
In related news, Director William E. Ford bought 1,000 shares of the company’s stock in a transaction dated Wednesday, May 9th. The shares were acquired at an average price of $530.95 per share, with a total value of $530,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert L. Goldstein sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $558.00, for a total value of $2,790,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 15,686 shares of company stock worth $8,573,450. Corporate insiders own 1.86% of the company’s stock.
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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