BlackRock, Inc. (NYSE:BLK) Shares Bought by Hengehold Capital Management LLC
Hengehold Capital Management LLC raised its stake in BlackRock, Inc. (NYSE:BLK) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,179 shares of the asset manager’s stock after purchasing an additional 40 shares during the period. Hengehold Capital Management LLC’s holdings in BlackRock were worth $2,603,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DNB Asset Management AS grew its stake in BlackRock by 665.6% in the third quarter. DNB Asset Management AS now owns 203,708 shares of the asset manager’s stock worth $90,780,000 after purchasing an additional 177,099 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in BlackRock by 35.7% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 380,583 shares of the asset manager’s stock valued at $390,234,000 after buying an additional 100,075 shares in the last quarter. BlackRock Inc. raised its stake in BlackRock by 1.2% during the second quarter. BlackRock Inc. now owns 7,642,761 shares of the asset manager’s stock valued at $3,586,748,000 after buying an additional 89,230 shares in the last quarter. California Public Employees Retirement System lifted its holdings in BlackRock by 32.3% during the 3rd quarter. California Public Employees Retirement System now owns 258,016 shares of the asset manager’s stock worth $114,982,000 after buying an additional 63,063 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new position in BlackRock during the 4th quarter worth approximately $26,445,000. 81.37% of the stock is owned by institutional investors.
BLK has been the subject of a number of research analyst reports. Deutsche Bank initiated coverage on BlackRock in a report on Thursday, January 9th. They issued a “buy” rating for the company. Wells Fargo & Co restated a “buy” rating on shares of BlackRock in a research note on Sunday, January 19th. Morgan Stanley raised their price objective on BlackRock from $603.00 to $621.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. BMO Capital Markets initiated coverage on shares of BlackRock in a report on Monday, October 7th. They issued a “market perform” rating and a $547.00 price objective for the company. Finally, Citigroup boosted their target price on shares of BlackRock from $565.00 to $580.00 and gave the company a “buy” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $534.80.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, January 15th. The asset manager reported $8.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.69 by $0.65. BlackRock had a return on equity of 14.05% and a net margin of 30.79%. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter last year, the business posted $6.08 EPS. The business’s revenue was up 15.8% on a year-over-year basis. On average, analysts forecast that BlackRock, Inc. will post 31.54 EPS for the current year.
In other BlackRock news, Director J. Richard Kushel sold 2,276 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $535.21, for a total value of $1,218,137.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gary Shedlin sold 3,995 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $490.96, for a total transaction of $1,961,385.20. 1.42% of the stock is owned by corporate insiders.
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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