Golub Group LLC raised its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 828.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,142 shares of the asset manager’s stock after purchasing an additional 43,851 shares during the period. Golub Group LLC’s holdings in BlackRock were worth $21,900,000 as of its most recent filing with the Securities and Exchange Commission.
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A number of other institutional investors have also added to or reduced their stakes in the business. Virtus ETF Advisers LLC bought a new stake in shares of BlackRock in the 2nd quarter valued at about $27,000. Garrett Wealth Advisory Group LLC bought a new stake in shares of BlackRock in the 3rd quarter valued at about $30,000. Massey Quick Simon & CO. LLC bought a new stake in shares of BlackRock in the 2nd quarter valued at about $31,000. MRA Associates USA LLC bought a new stake in shares of BlackRock in the 2nd quarter valued at about $33,000. Finally, SRS Capital Advisors Inc. bought a new stake in shares of BlackRock in the 2nd quarter valued at about $33,000. Institutional investors own 81.96% of the company’s stock.
In other BlackRock news, CEO Laurence Fink sold 100 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $457.02, for a total transaction of $45,702.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jerkovic Milan 3,000,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. 1.42% of the stock is currently owned by corporate insiders.
NYSE BLK traded up $0.05 during trading hours on Friday, reaching $490.21. 348,812 shares of the company’s stock were exchanged, compared to its average volume of 571,106. The company’s 50-day moving average is $448.65 and its two-hundred day moving average is $449.03. BlackRock, Inc. has a one year low of $360.79 and a one year high of $495.39. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.92 and a current ratio of 2.92. The company has a market capitalization of $74.57 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 1.67 and a beta of 1.54.
BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, October 15th. The asset manager reported $7.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $3.69 billion. During the same period in the prior year, the business earned $7.52 EPS. BlackRock’s revenue for the quarter was up 3.2% compared to the same quarter last year. Research analysts predict that BlackRock, Inc. will post 27.55 earnings per share for the current fiscal year.
A number of brokerages have recently commented on BLK. Morgan Stanley upped their price target on BlackRock from $547.00 to $554.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Citigroup lowered their price target on BlackRock from $545.00 to $500.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Credit Suisse Group set a $567.00 price target on BlackRock and gave the company a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. lowered their price target on BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, Barclays reaffirmed a “buy” rating and issued a $485.00 price target on shares of BlackRock in a research note on Wednesday, October 9th. One 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. The stock currently has an average rating of “Buy” and a consensus target price of $507.10.
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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