Candriam Luxembourg S.C.A. trimmed its position in BlackRock, Inc. (NYSE:BLK) by 5.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,999 shares of the asset manager’s stock after selling 621 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in BlackRock were worth $4,918,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Salem Investment Counselors Inc. raised its holdings in shares of BlackRock by 14.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock valued at $101,000 after purchasing an additional 30 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of BlackRock by 48.9% in the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after purchasing an additional 85 shares during the period. Enterprise Financial Services Corp raised its holdings in shares of BlackRock by 52.5% in the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after purchasing an additional 85 shares during the period. Penserra Capital Management LLC bought a new stake in shares of BlackRock in the 2nd quarter valued at about $104,000. Finally, Harfst & Associates Inc. raised its holdings in shares of BlackRock by 17.3% in the 2nd quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock valued at $111,000 after purchasing an additional 39 shares during the period. 82.42% of the stock is currently owned by institutional investors.
In related news, insider Mark Mccombe sold 1,000 shares of the stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $478.99, for a total transaction of $478,990.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,775 shares of company stock worth $2,053,412. Company insiders own 1.86% of the company’s stock.
BlackRock, Inc. (NYSE:BLK) opened at $465.11 on Tuesday. BlackRock, Inc. has a 52-week low of $365.83 and a 52-week high of $489.79. The stock has a market cap of $75,276.73, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 1.61 and a beta of 1.79. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.09.
BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.49 by $0.43. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the business posted $5.14 EPS. The business’s revenue was up 14.0% compared to the same quarter last year. sell-side analysts expect that BlackRock, Inc. will post 22.29 earnings per share for the current year.
Several research analysts have weighed in on BLK shares. Goldman Sachs Group, Inc. (The) raised shares of BlackRock from a “neutral” rating to a “buy” rating and increased their price target for the company from $440.00 to $500.00 in a report on Thursday, September 28th. Wells Fargo & Company reissued a “market perform” rating and issued a $475.00 price target (up from $450.00) on shares of BlackRock in a report on Thursday, October 12th. Barclays PLC started coverage on shares of BlackRock in a report on Friday, September 8th. They issued an “overweight” rating and a $475.00 price target on the stock. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price target on the stock in a report on Tuesday, October 3rd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $440.00 price target on shares of BlackRock in a report on Tuesday, September 26th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $489.08.
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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