Boston Financial Mangement LLC Has $14.37 Million Position in BlackRock, Inc. (BLK)
Boston Financial Mangement LLC lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,139 shares of the asset manager’s stock after acquiring an additional 244 shares during the period. BlackRock makes up approximately 1.0% of Boston Financial Mangement LLC’s portfolio, making the stock its 28th largest position. Boston Financial Mangement LLC’s holdings in BlackRock were worth $14,369,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in BlackRock by 2,775.4% in the first 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 last quarter. Third Point LLC purchased a new stake in BlackRock in the second quarter worth approximately $654,736,000. Harbour Capital Advisors LLC boosted its holdings in BlackRock by 38,807.6% in the second 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 last quarter. Capital World Investors boosted its holdings in BlackRock by 12.9% in the second 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 last quarter. Finally, Vanguard Group Inc. boosted its holdings in BlackRock by 8.4% in the second 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 last quarter. 82.24% of the stock is owned by institutional investors.
In other BlackRock news, insider Mark Mccombe sold 1,000 shares of the stock in a transaction 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 filing with the SEC, which can be accessed through this hyperlink. Also, Director J. Richard Kushel sold 100 shares of the stock in a transaction 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 4,775 shares of company stock worth $2,053,412 over the last three months. 1.86% of the stock is currently owned by insiders.
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Several equities research analysts recently issued reports on the stock. Jefferies Group LLC restated a “hold” rating and issued a $440.00 target price on shares of BlackRock in a report 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 report on Thursday, October 12th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 target price on the stock in a report on Tuesday, October 3rd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $500.00 target price on shares of BlackRock in a report on Thursday, October 12th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $455.00 price target (down previously from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. BlackRock has a consensus rating of “Buy” and a consensus price target of $489.08.
BlackRock (NYSE:BLK) last announced its quarterly 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 12.09%. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the firm posted $5.14 earnings per share. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year.
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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