Bank of The West Buys 2,525 Shares of BlackRock, Inc. (BLK)

Bank of The West raised its stake in shares of BlackRock, Inc. (NYSE:BLK) by 97.0% during the third quarter, HoldingsChannel reports. The firm owned 5,127 shares of the asset manager’s stock after buying an additional 2,525 shares during the period. Bank of The West’s holdings in BlackRock were worth $2,416,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BLK. BlackRock Inc. raised its stake in shares of BlackRock by 2.1% in the second quarter. BlackRock Inc. now owns 7,601,685 shares of the asset manager’s stock valued at $3,793,546,000 after acquiring an additional 153,749 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of BlackRock by 2.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 476,036 shares of the asset manager’s stock valued at $237,562,000 after acquiring an additional 12,785 shares during the last quarter. Mawer Investment Management Ltd. raised its stake in shares of BlackRock by 1.5% in the second quarter. Mawer Investment Management Ltd. now owns 411,071 shares of the asset manager’s stock valued at $205,141,000 after acquiring an additional 5,981 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of BlackRock by 5.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 380,630 shares of the asset manager’s stock valued at $189,950,000 after acquiring an additional 21,123 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of BlackRock by 47.4% in the second quarter. Janus Henderson Group PLC now owns 348,987 shares of the asset manager’s stock valued at $174,168,000 after acquiring an additional 112,221 shares during the last quarter. 82.65% of the stock is currently owned by institutional investors.

BLK stock opened at $413.43 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.87 and a quick ratio of 3.87. BlackRock, Inc. has a fifty-two week low of $376.31 and a fifty-two week high of $594.52. The company has a market capitalization of $65.39 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.23 and a beta of 1.54.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 16th. The asset manager reported $7.52 earnings per share for the quarter, topping the consensus estimate of $6.93 by $0.59. BlackRock had a net margin of 39.92% and a return on equity of 13.76%. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the previous year, the company posted $5.76 EPS. BlackRock’s revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts forecast that BlackRock, Inc. will post 27.71 EPS for the current fiscal year.

In related news, Director William E. Ford acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 22nd. The stock was purchased at an average price of $395.21 per share, for a total transaction of $790,420.00. Following the transaction, the director now directly owns 9,466 shares of the company’s stock, valued at approximately $3,741,057.86. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.75% of the company’s stock.

BLK has been the subject of a number of research analyst reports. Goldman Sachs Group cut shares of BlackRock from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, October 17th. Deutsche Bank cut their target price on shares of BlackRock from $570.00 to $561.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $541.00 to $592.00 and gave the company a “buy” rating in a research note on Monday, October 8th. UBS Group cut their target price on shares of BlackRock from $575.00 to $565.00 and set a “buy” rating for the company in a research note on Monday, October 8th. Finally, Morgan Stanley cut their target price on shares of BlackRock from $607.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, October 9th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $569.08.

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BlackRock Profile

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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