BlackRock, Inc. (BLK) Holdings Increased by Heritage Investors Management Corp
Heritage Investors Management Corp boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 8.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 32,566 shares of the asset manager’s stock after purchasing an additional 2,661 shares during the quarter. Heritage Investors Management Corp’s holdings in BlackRock were worth $15,349,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of BlackRock by 2.1% in the 2nd quarter. BlackRock Inc. now owns 7,601,685 shares of the asset manager’s stock valued at $3,793,546,000 after purchasing an additional 153,749 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of BlackRock by 2.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 476,036 shares of the asset manager’s stock valued at $237,562,000 after purchasing an additional 12,785 shares during the period. Mawer Investment Management Ltd. increased its holdings in shares of BlackRock by 1.5% in the 2nd quarter. Mawer Investment Management Ltd. now owns 411,071 shares of the asset manager’s stock valued at $205,141,000 after purchasing an additional 5,981 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of BlackRock by 5.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 380,630 shares of the asset manager’s stock valued at $189,950,000 after purchasing an additional 21,123 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of BlackRock by 47.4% in the 2nd quarter. Janus Henderson Group PLC now owns 348,987 shares of the asset manager’s stock valued at $174,168,000 after purchasing an additional 112,221 shares during the period. Hedge funds and other institutional investors own 82.65% of the company’s stock.
A number of equities analysts have recently weighed in on BLK shares. Citigroup dropped their target price on BlackRock to $500.00 and set a “buy” rating on the stock in a report on Wednesday, October 17th. Zacks Investment Research upgraded BlackRock from a “sell” rating to a “hold” rating in a report on Friday, August 31st. Goldman Sachs Group downgraded BlackRock from a “conviction-buy” rating to a “buy” rating in a report on Wednesday, October 17th. Wells Fargo & Co dropped their target price on BlackRock from $545.00 to $510.00 and set a “market perform” rating on the stock in a report on Thursday, October 11th. Finally, Argus dropped their target price on BlackRock from $620.00 to $535.00 and set a “buy” rating on the stock in a report on Wednesday, October 17th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. BlackRock currently has an average rating of “Buy” and a consensus target price of $569.08.
Shares of NYSE BLK opened at $413.95 on Friday. The company has a market capitalization of $67.78 billion, a P/E ratio of 15.66, a PEG ratio of 1.27 and a beta of 1.54. BlackRock, Inc. has a 52 week low of $376.31 and a 52 week high of $594.52. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.87 and a quick ratio of 3.87.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Tuesday, October 16th. The asset manager reported $7.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $6.93 by $0.59. The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.65 billion. BlackRock had a return on equity of 13.76% and a net margin of 39.92%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.76 EPS. As a group, equities analysts forecast that BlackRock, Inc. will post 27.71 earnings per share for the current year.
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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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