Private Ocean LLC Buys 48 Shares of BlackRock, Inc. (NYSE:BLK)

Private Ocean LLC lifted its stake in BlackRock, Inc. (NYSE:BLK) by 77.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110 shares of the asset manager’s stock after purchasing an additional 48 shares during the quarter. Private Ocean LLC’s holdings in BlackRock were worth $50,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of BLK. Buckingham Capital Management Inc. boosted its holdings in BlackRock by 1.6% in the first quarter. Buckingham Capital Management Inc. now owns 16,412 shares of the asset manager’s stock worth $7,014,000 after acquiring an additional 259 shares in the last quarter. First Financial Bank Trust Division raised its stake in shares of BlackRock by 1.5% in the second quarter. First Financial Bank Trust Division now owns 16,722 shares of the asset manager’s stock worth $7,847,000 after purchasing an additional 240 shares during the last quarter. Park National Corp OH raised its stake in shares of BlackRock by 27.4% in the second quarter. Park National Corp OH now owns 22,513 shares of the asset manager’s stock worth $10,565,000 after purchasing an additional 4,839 shares during the last quarter. Rockland Trust Co. raised its stake in shares of BlackRock by 3.6% in the second quarter. Rockland Trust Co. now owns 16,279 shares of the asset manager’s stock worth $7,640,000 after purchasing an additional 567 shares during the last quarter. Finally, Foundations Investment Advisors LLC purchased a new stake in shares of BlackRock in the second quarter worth approximately $278,000. 81.96% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BLK traded up $0.05 on Friday, reaching $490.21. 348,812 shares of the company’s stock traded hands, compared to its average volume of 571,106. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 0.77. The stock has a market cap of $74.57 billion, a PE ratio of 18.20, a PEG ratio of 1.67 and a beta of 1.54. The stock’s 50 day simple moving average is $448.65 and its two-hundred day simple moving average is $449.03. BlackRock, Inc. has a 52-week low of $360.79 and a 52-week high of $495.39.

BlackRock (NYSE:BLK) last released its earnings results on Tuesday, October 15th. The asset manager reported $7.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $6.95 by $0.20. BlackRock had a return on equity of 13.00% and a net margin of 29.31%. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the business posted $7.52 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. Analysts forecast that BlackRock, Inc. will post 27.55 earnings per share for the current year.

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In other BlackRock news, CEO Laurence Fink sold 100 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $457.02, for a total value of $45,702.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jerkovic Milan 3,000,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. Company insiders own 1.42% of the company’s stock.

Several brokerages have recently commented on BLK. Morgan Stanley increased their price objective on BlackRock from $547.00 to $554.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. BMO Capital Markets began coverage on BlackRock in a research note on Monday, October 7th. They issued a “market perform” rating and a $547.00 price objective for the company. Wells Fargo & Co reissued a “hold” rating on shares of BlackRock in a research note on Tuesday, October 15th. JPMorgan Chase & Co. decreased their price target on BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Citigroup decreased their price target on BlackRock from $545.00 to $500.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. BlackRock has a consensus rating of “Buy” and an average price target of $507.10.

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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