BlackRock, Inc. (BLK) Shares Sold by Forward Management LLC
Forward Management LLC reduced its holdings in BlackRock, Inc. (NYSE:BLK) by 3.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,574 shares of the asset manager’s stock after selling 137 shares during the quarter. Forward Management LLC’s holdings in BlackRock were worth $1,598,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Everett Harris & Co. CA increased its position in shares of BlackRock by 9.2% during the 2nd quarter. Everett Harris & Co. CA now owns 100,143 shares of the asset manager’s stock valued at $42,301,000 after purchasing an additional 8,478 shares during the last quarter. Aperio Group LLC increased its position in shares of BlackRock by 8.6% during the 3rd quarter. Aperio Group LLC now owns 68,737 shares of the asset manager’s stock valued at $30,732,000 after purchasing an additional 5,451 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of BlackRock by 48.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 101,703 shares of the asset manager’s stock valued at $42,960,000 after purchasing an additional 33,400 shares during the last quarter. Honkamp Krueger Financial Services Inc. bought a new position in shares of BlackRock during the 3rd quarter valued at about $222,000. Finally, Blue Chip Partners Inc. increased its position in shares of BlackRock by 8.5% during the 2nd quarter. Blue Chip Partners Inc. now owns 13,440 shares of the asset manager’s stock valued at $5,677,000 after purchasing an additional 1,055 shares during the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.
BlackRock, Inc. (NYSE:BLK) traded up $1.72 during midday trading on Tuesday, reaching $477.43. The company’s stock had a trading volume of 34,931 shares, compared to its average volume of 522,287. BlackRock, Inc. has a 1-year low of $349.04 and a 1-year high of $489.79. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.06. The stock has a market cap of $76,860.00, a PE ratio of 22.23, a P/E/G ratio of 1.65 and a beta of 1.79.
BlackRock (NYSE:BLK) last released its earnings results on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, beating the Zacks’ consensus estimate of $5.49 by $0.43. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. BlackRock had a return on equity of 12.09% and a net margin of 29.52%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the business posted $5.14 EPS. equities analysts forecast that BlackRock, Inc. will post 22.29 EPS for the current year.
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BLK has been the topic of several recent research reports. Jefferies Group LLC restated a “hold” rating and set a $440.00 price target on shares of BlackRock in a research report on Tuesday, September 26th. Wells Fargo & Company restated a “market perform” rating and set a $475.00 price target (up from $450.00) on shares of BlackRock in a research report on Thursday, October 12th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price target on the stock in a research report on Tuesday, October 3rd. Keefe, Bruyette & Woods restated a “hold” rating and set a $500.00 price target on shares of BlackRock in a research report on Thursday, October 12th. Finally, Deutsche Bank AG restated a “buy” rating and set a $455.00 price target (down from $465.00) on shares of BlackRock in a research report 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 company. The stock currently has an average rating of “Buy” and a consensus price target of $489.08.
In other news, Director J. Richard Kushel sold 100 shares of the firm’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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Mccombe sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 12th. The shares were 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. In the last 90 days, insiders sold 4,775 shares of company stock valued at $2,053,412. 1.86% of the stock is currently owned by company insiders.
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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