State Board of Administration of Florida Retirement System lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 162,430 shares of the asset manager’s stock after selling 4,066 shares during the period. State Board of Administration of Florida Retirement System owned 0.10% of BlackRock worth $76,558,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. American National Bank boosted its holdings in BlackRock by 46.0% in the second quarter. American National Bank now owns 905 shares of the asset manager’s stock worth $452,000 after acquiring an additional 285 shares in the last quarter. Gulf International Bank UK Ltd boosted its holdings in BlackRock by 1.2% in the second quarter. Gulf International Bank UK Ltd now owns 38,914 shares of the asset manager’s stock worth $19,419,000 after acquiring an additional 472 shares in the last quarter. Bath Savings Trust Co bought a new stake in BlackRock in the second quarter worth $260,000. DnB Asset Management AS boosted its holdings in BlackRock by 5.0% in the second quarter. DnB Asset Management AS now owns 18,841 shares of the asset manager’s stock worth $9,402,000 after acquiring an additional 900 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its holdings in BlackRock by 44.1% in the second quarter. IFM Investors Pty Ltd now owns 5,414 shares of the asset manager’s stock worth $2,702,000 after acquiring an additional 1,658 shares in the last quarter. 82.74% of the stock is owned by institutional investors and hedge funds.
BLK has been the topic of several analyst reports. JPMorgan Chase & Co. set a $547.00 target price on BlackRock and gave the stock a “buy” rating in a report on Sunday, July 8th. Morgan Stanley dropped their target price on BlackRock from $624.00 to $607.00 and set an “overweight” rating on the stock in a report on Thursday, July 12th. Keefe, Bruyette & Woods raised BlackRock from a “market perform” rating to an “outperform” rating and set a $590.00 target price on the stock in a report on Friday, July 13th. Goldman Sachs Group dropped their target price on BlackRock to $570.00 and set a “buy” rating on the stock in a report on Tuesday, July 17th. Finally, Barclays dropped their target price on BlackRock from $615.00 to $595.00 and set an “overweight” rating on the stock in a report on Tuesday, July 17th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $569.08.
Shares of NYSE:BLK opened at $409.76 on Friday. The firm has a market cap of $65.66 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.54. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.87 and a current ratio of 3.87. BlackRock, Inc. has a 1 year low of $376.31 and a 1 year high of $594.52.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Tuesday, October 16th. The asset manager reported $7.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.93 by $0.59. The firm had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.65 billion. BlackRock had a return on equity of 13.76% and a net margin of 39.92%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $5.76 earnings per share. On average, research analysts predict that BlackRock, Inc. will post 27.71 earnings per share for the current fiscal year.
In other BlackRock news, Director William E. Ford purchased 2,000 shares of the stock in a transaction dated Wednesday, October 17th. The shares were purchased at an average cost of $409.59 per share, with a total value of $819,180.00. Following the completion of the acquisition, the director now directly owns 7,466 shares in the company, valued at approximately $3,057,998.94. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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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