Putnam FL Investment Management Co. acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 50,833 shares of the asset manager’s stock, valued at approximately $22,727,000. BlackRock accounts for about 2.2% of Putnam FL Investment Management Co.’s holdings, making the stock its 5th largest position.
Other hedge funds and other institutional investors have also modified their holdings of the company. Salem Investment Counselors Inc. raised its holdings in BlackRock by 14.3% during the second quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock worth $101,000 after purchasing an additional 30 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in BlackRock by 48.9% during the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after purchasing an additional 85 shares in the last quarter. Enterprise Financial Services Corp raised its holdings in BlackRock by 52.5% during the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after purchasing an additional 85 shares in the last quarter. Penserra Capital Management LLC bought a new stake in BlackRock during the second quarter worth approximately $104,000. Finally, Harfst & Associates Inc. raised its holdings in BlackRock by 17.3% during the second quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock worth $111,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 82.42% of the company’s stock.
BlackRock, Inc. (NYSE BLK) traded up $0.05 during midday trading on Thursday, hitting $470.50. The company’s stock had a trading volume of 470,400 shares, compared to its average volume of 530,877. The company has a market capitalization of $75,680.00, a PE ratio of 21.83, a P/E/G ratio of 1.62 and a beta of 1.79. BlackRock, Inc. has a 52 week low of $365.83 and a 52 week high of $489.79. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.49 by $0.43. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the company earned $5.14 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. sell-side analysts predict that BlackRock, Inc. will post 22.29 earnings per share for the current year.
In other BlackRock news, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director J. Richard Kushel sold 100 shares of the business’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $481.58, for a total transaction of $48,158.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,775 shares of company stock worth $2,053,412. Company insiders own 1.86% of the company’s stock.
Several brokerages recently commented on BLK. Jefferies Group LLC reissued a “hold” rating and set a $440.00 target price on shares of BlackRock in a report on Friday, August 18th. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $501.00 target price on the stock in a report on Tuesday, October 3rd. BidaskClub cut BlackRock from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $500.00 target price on shares of BlackRock in a report on Thursday, October 12th. Finally, Credit Suisse Group reissued an “outperform” rating on shares of BlackRock in a report on Thursday, October 12th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $489.08.
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BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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