BlackRock, Inc. (BLK) Shares Bought by Palladium Partners LLC
Palladium Partners LLC grew its stake in BlackRock, Inc. (NYSE:BLK) by 4.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,906 shares of the asset manager’s stock after acquiring an additional 732 shares during the period. Palladium Partners LLC’s holdings in BlackRock were worth $7,111,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of BlackRock by 2,775.4% in the 1st quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock worth $2,508,733,000 after purchasing an additional 6,314,004 shares during the period. Third Point LLC purchased a new stake in shares of BlackRock in the 2nd quarter worth approximately $654,736,000. Harbour Capital Advisors LLC lifted its position in shares of BlackRock by 38,807.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock worth $2,848,000 after purchasing an additional 1,199,932 shares during the period. Capital World Investors lifted its position in shares of BlackRock by 12.9% in the 2nd quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after purchasing an additional 810,667 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of BlackRock by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after purchasing an additional 656,569 shares during the period. Institutional investors and hedge funds own 82.42% of the company’s stock.
In other BlackRock news, insider Robert W. Fairbairn sold 3,675 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director J. Richard Kushel sold 100 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $481.58, for a total transaction of $48,158.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,775 shares of company stock worth $2,053,412 in the last 90 days. 1.86% of the stock is currently owned by company insiders.
Several brokerages have recently weighed in on BLK. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $475.00 price target (up previously from $450.00) on shares of BlackRock in a research report on Thursday, October 12th. J P Morgan Chase & Co upped their price target on shares of BlackRock to $558.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Credit Suisse Group reaffirmed an “outperform” rating on shares of BlackRock in a research report on Thursday, October 12th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $465.00 price target on shares of BlackRock in a research report on Thursday, October 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $500.00 price target on shares of BlackRock in a research report on Thursday, October 12th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. BlackRock has a consensus rating of “Buy” and a consensus target price of $489.08.
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Shares of BlackRock, Inc. (NYSE BLK) traded up $0.05 during trading on Thursday, reaching $470.50. 470,400 shares of the company’s stock were exchanged, compared to its average volume of 530,877. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89. BlackRock, Inc. has a twelve month low of $365.83 and a twelve month high of $489.79. The firm has a market cap of $75,710.00, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 1.62 and a beta of 1.79.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating 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 business 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. BlackRock’s revenue for the quarter was up 14.0% compared to the same quarter last year. equities research analysts anticipate that BlackRock, Inc. will post 22.29 EPS for the current fiscal year.
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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