BTC Capital Management Inc. Boosts Position in BlackRock, Inc. (BLK)
BTC Capital Management Inc. grew its holdings in BlackRock, Inc. (NYSE:BLK) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,846 shares of the asset manager’s stock after acquiring an additional 151 shares during the period. BlackRock comprises approximately 1.7% of BTC Capital Management Inc.’s portfolio, making the stock its 14th largest position. BTC Capital Management Inc.’s holdings in BlackRock were worth $9,324,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Salem Investment Counselors Inc. grew its stake in shares of BlackRock by 14.3% in the second quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock worth $101,000 after acquiring an additional 30 shares in the last quarter. Enterprise Financial Services Corp grew its stake in shares of BlackRock by 52.5% in the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after acquiring an additional 85 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of BlackRock in the second quarter worth $104,000. Proficio Capital Partners LLC grew its stake in shares of BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after acquiring an additional 85 shares in the last quarter. Finally, Harfst & Associates Inc. grew its stake in shares of BlackRock by 17.3% in the second quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock worth $111,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds own 82.42% of the company’s stock.
Shares of BlackRock, Inc. (NYSE BLK) traded down $0.77 on Monday, reaching $465.83. 304,500 shares of the company were exchanged, compared to its average volume of 532,057. BlackRock, Inc. has a 52-week low of $365.83 and a 52-week high of $489.79. The stock has a market capitalization of $74,000.00, a PE ratio of 21.62, 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 (NYSE:BLK) last announced its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, beating analysts’ consensus estimates of $5.49 by $0.43. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the company earned $5.14 earnings per share. BlackRock’s quarterly revenue was up 14.0% compared to the same quarter last year. analysts anticipate that BlackRock, Inc. will post 22.29 earnings per share for the current fiscal year.
Several research firms have commented on BLK. Jefferies Group LLC restated a “hold” rating and issued a $440.00 price target on shares of BlackRock in a research note on Friday, August 18th. Morgan Stanley restated an “overweight” rating and issued a $476.00 price target (up previously from $460.00) on shares of BlackRock in a research note on Tuesday, July 18th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price target for the company in a research note on Tuesday, October 3rd. BidaskClub downgraded shares of BlackRock from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Deutsche Bank AG restated a “buy” rating and issued 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 issued a buy rating to the company. BlackRock currently has an average rating of “Buy” and an average price target of $489.08.
In other news, insider Robert W. Fairbairn sold 3,675 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total value of $1,526,264.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J. Richard Kushel sold 100 shares of the company’s stock in a transaction dated 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 sold 4,775 shares of company stock valued at $2,053,412 over the last ninety days. Corporate insiders own 1.86% of the company’s stock.
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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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