Bank of New York Mellon Corp Sells 8,137 Shares of BlackRock, Inc. (BLK)
Bank of New York Mellon Corp lowered its position in BlackRock, Inc. (NYSE:BLK) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,238,215 shares of the asset manager’s stock after selling 8,137 shares during the quarter. Bank of New York Mellon Corp owned about 0.77% of BlackRock worth $553,594,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Aperio Group LLC increased its holdings in BlackRock by 8.6% in the 3rd quarter. Aperio Group LLC now owns 68,737 shares of the asset manager’s stock worth $30,732,000 after acquiring an additional 5,451 shares during the last quarter. Everett Harris & Co. CA boosted its stake in BlackRock by 9.2% in the 2nd quarter. Everett Harris & Co. CA now owns 100,143 shares of the asset manager’s stock worth $42,301,000 after purchasing an additional 8,478 shares during the period. Canada Pension Plan Investment Board boosted its stake in BlackRock by 48.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 101,703 shares of the asset manager’s stock worth $42,960,000 after purchasing an additional 33,400 shares during the period. Honkamp Krueger Financial Services Inc. bought a new position in BlackRock in the 3rd quarter worth about $222,000. Finally, Blue Chip Partners Inc. boosted its stake in BlackRock by 8.5% in the 2nd quarter. Blue Chip Partners Inc. now owns 13,440 shares of the asset manager’s stock worth $5,677,000 after purchasing an additional 1,055 shares during the period. 82.42% of the stock is owned by institutional investors.
Shares of BlackRock, Inc. (NYSE:BLK) traded up $5.34 on Wednesday, hitting $470.45. The stock had a trading volume of 365,900 shares, compared to its average volume of 531,152. The company has a market cap of $75,160.38, a P/E ratio of 21.58, a PEG 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, Inc. has a 12-month low of $365.83 and a 12-month high of $489.79.
BlackRock (NYSE:BLK) last released its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.49 by $0.43. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.10 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. BlackRock’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.14 EPS. equities research analysts expect that BlackRock, Inc. will post 22.29 EPS for the current year.
Several research analysts have commented on the company. Jefferies Group LLC restated a “hold” rating and issued a $440.00 target price on shares of BlackRock in a research note on Tuesday, September 26th. Wells Fargo & Company restated a “market perform” rating and issued a $475.00 target price (up previously from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $501.00 target price for the company in a research note on Tuesday, October 3rd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $500.00 target price on shares of BlackRock in a research note on Thursday, October 12th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $455.00 target price (down previously from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. BlackRock currently has a consensus rating of “Buy” and a consensus target price of $489.08.
In related news, Director J. Richard Kushel sold 100 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $481.58, for a total value of $48,158.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Mccombe sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $478.99, for a total value of $478,990.00. The disclosure for this sale can be found here. Insiders sold a total of 4,775 shares of company stock valued at $2,053,412 in the last 90 days. 1.86% of the stock is currently owned by corporate insiders.
BlackRock Company Profile
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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