Granite Investment Partners LLC lowered its position in BlackRock, Inc. (NYSE:BLK) by 3.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,743 shares of the asset manager’s stock after selling 612 shares during the period. Granite Investment Partners LLC’s holdings in BlackRock were worth $8,363,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Intact Investment Management Inc. boosted its position in BlackRock by 1.0% during the second quarter. Intact Investment Management Inc. now owns 10,300 shares of the asset manager’s stock worth $5,144,000 after purchasing an additional 100 shares during the period. Private Asset Management Inc. boosted its position in BlackRock by 2.8% during the second quarter. Private Asset Management Inc. now owns 3,782 shares of the asset manager’s stock worth $1,887,000 after purchasing an additional 103 shares during the period. Pillar Pacific Capital Management LLC boosted its position in BlackRock by 0.6% during the second quarter. Pillar Pacific Capital Management LLC now owns 17,449 shares of the asset manager’s stock worth $8,708,000 after purchasing an additional 106 shares during the period. Parsons Capital Management Inc. RI boosted its position in BlackRock by 0.7% during the second quarter. Parsons Capital Management Inc. RI now owns 15,053 shares of the asset manager’s stock worth $7,512,000 after purchasing an additional 108 shares during the period. Finally, Clarus Wealth Advisors boosted its position in BlackRock by 44.3% during the third quarter. Clarus Wealth Advisors now owns 355 shares of the asset manager’s stock worth $167,000 after purchasing an additional 109 shares during the period. Hedge funds and other institutional investors own 80.42% of the company’s stock.

In other BlackRock news, Director William E. Ford acquired 2,000 shares of BlackRock stock in a transaction dated Monday, October 22nd. The stock was bought at an average cost of $395.21 per share, with a total value of $790,420.00. Following the completion of the transaction, the director now owns 9,466 shares of the company’s stock, valued at $3,741,057.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.75% of the stock is currently owned by corporate insiders.

BLK opened at $411.00 on Monday. BlackRock, Inc. has a 1-year low of $376.31 and a 1-year high of $594.52. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.07 and a quick ratio of 3.07. The company has a market capitalization of $64.82 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 1.23 and a beta of 1.54.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 16th. The asset manager reported $7.52 earnings per share for the quarter, beating the consensus estimate of $6.93 by $0.59. BlackRock had a return on equity of 13.72% and a net margin of 39.92%. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the prior year, the business earned $5.76 earnings per share. BlackRock’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts predict that BlackRock, Inc. will post 27.84 EPS for the current year.

A number of equities research analysts have issued reports on the company. Argus decreased their target price on BlackRock from $620.00 to $535.00 and set a “buy” rating for the company in a research report on Wednesday, October 17th. ValuEngine cut BlackRock from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Wells Fargo & Co decreased their target price on BlackRock from $545.00 to $510.00 and set a “market perform” rating for the company in a research report on Thursday, October 11th. Deutsche Bank reaffirmed a “buy” rating and set a $550.00 target price (down previously from $559.00) on shares of BlackRock in a research report on Thursday, October 11th. Finally, JPMorgan Chase & Co. raised BlackRock to an “overweight” rating in a research report on Tuesday, October 9th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. BlackRock currently has an average rating of “Buy” and a consensus target price of $554.31.

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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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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