ST Germain D J Co. Inc. lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,671 shares of the asset manager’s stock after selling 240 shares during the period. BlackRock comprises about 1.5% of ST Germain D J Co. Inc.’s holdings, making the stock its 25th largest holding. ST Germain D J Co. Inc.’s holdings in BlackRock were worth $13,668,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of BLK. Bangor Savings Bank increased its holdings in shares of BlackRock by 1.5% in the second quarter. Bangor Savings Bank now owns 1,483 shares of the asset manager’s stock worth $696,000 after buying an additional 22 shares during the period. SeaCrest Wealth Management LLC increased its holdings in shares of BlackRock by 4.7% in the third quarter. SeaCrest Wealth Management LLC now owns 530 shares of the asset manager’s stock worth $236,000 after buying an additional 24 shares during the period. Pinnacle Bank increased its holdings in shares of BlackRock by 2.7% in the second quarter. Pinnacle Bank now owns 945 shares of the asset manager’s stock worth $443,000 after buying an additional 25 shares during the period. Wambolt & Associates LLC increased its holdings in shares of BlackRock by 2.0% in the second quarter. Wambolt & Associates LLC now owns 1,306 shares of the asset manager’s stock worth $613,000 after buying an additional 25 shares during the period. Finally, C M Bidwell & Associates Ltd. increased its holdings in shares of BlackRock by 1.9% in the second quarter. C M Bidwell & Associates Ltd. now owns 1,313 shares of the asset manager’s stock worth $616,000 after buying an additional 25 shares during the period. 81.84% of the stock is owned by hedge funds and other institutional investors.
NYSE:BLK traded up $4.92 during mid-day trading on Thursday, reaching $451.32. 256,732 shares of the company’s stock traded hands, compared to its average volume of 615,596. BlackRock, Inc. has a 12-month low of $360.79 and a 12-month high of $487.45. The firm has a market capitalization of $67.12 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.58 and a beta of 1.54. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.92 and a quick ratio of 2.92. The company has a 50 day moving average price of $431.87 and a 200-day moving average price of $447.10.
BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, October 15th. The asset manager reported $7.15 earnings per share for the quarter, topping analysts’ consensus estimates of $6.95 by $0.20. BlackRock had a return on equity of 13.24% and a net margin of 30.25%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the business earned $7.52 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, analysts forecast that BlackRock, Inc. will post 27.38 EPS for the current year.
BLK has been the topic of several analyst reports. UBS Group lifted their price objective on BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Barclays restated a “buy” rating and set a $485.00 price target on shares of BlackRock in a report on Wednesday, October 9th. BMO Capital Markets assumed coverage on BlackRock in a report on Monday, October 7th. They set a “market perform” rating and a $547.00 price target on the stock. Citigroup reduced their price target on BlackRock from $545.00 to $500.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Co restated a “hold” rating on shares of BlackRock in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $501.10.
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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