Chicago Partners Investment Group LLC lifted its stake in BlackRock, Inc. (NYSE:BLK) by 88.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 915 shares of the asset manager’s stock after acquiring an additional 429 shares during the period. Chicago Partners Investment Group LLC’s holdings in BlackRock were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Truvestments Capital LLC acquired a new stake in BlackRock during the third quarter valued at approximately $116,000. Canton Hathaway LLC acquired a new stake in BlackRock during the third quarter valued at approximately $146,000. AlphaMark Advisors LLC acquired a new stake in BlackRock during the second quarter valued at approximately $147,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in BlackRock during the second quarter valued at approximately $150,000. Finally, Kaizen Advisory LLC lifted its stake in BlackRock by 156.7% during the second quarter. Kaizen Advisory LLC now owns 308 shares of the asset manager’s stock valued at $154,000 after purchasing an additional 188 shares during the last quarter. 82.65% of the stock is owned by institutional investors.
In other news, Director William E. Ford purchased 2,000 shares of the business’s stock in a transaction dated Monday, October 22nd. The shares were acquired at an average price of $395.21 per share, for a total transaction of $790,420.00. Following the completion of the acquisition, the director now directly owns 9,466 shares of the company’s stock, valued at $3,741,057.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.86% of the stock is owned by insiders.
BLK stock opened at $413.95 on Friday. BlackRock, Inc. has a 52-week low of $376.31 and a 52-week high of $594.52. The company has a current ratio of 3.87, a quick ratio of 3.87 and a debt-to-equity ratio of 0.88. The company has a market cap of $67.78 billion, a PE ratio of 15.66, a PEG ratio of 1.27 and a beta of 1.54.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, October 16th. The asset manager reported $7.52 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the previous year, the business earned $5.76 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts anticipate that BlackRock, Inc. will post 27.71 EPS for the current fiscal year.
Several analysts recently commented on the stock. ValuEngine raised shares of BlackRock from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. Keefe, Bruyette & Woods raised shares of BlackRock from a “market perform” rating to an “outperform” rating and set a $590.00 target price for the company in a research note on Friday, July 13th. Barclays cut their target price on shares of BlackRock from $615.00 to $595.00 and set an “overweight” rating for the company in a research note on Tuesday, July 17th. JPMorgan Chase & Co. increased 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. Finally, Goldman Sachs Group cut their target price on shares of BlackRock to $570.00 and set a “buy” rating for the company in a research note on Tuesday, July 17th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $569.08.
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BlackRock Company 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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