Zevin Asset Management LLC Grows Holdings in BlackRock, Inc. (BLK)
Zevin Asset Management LLC grew its position in BlackRock, Inc. (NYSE:BLK) by 9.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,447 shares of the asset manager’s stock after acquiring an additional 1,776 shares during the quarter. BlackRock accounts for 2.1% of Zevin Asset Management LLC’s portfolio, making the stock its 15th biggest holding. Zevin Asset Management LLC’s holdings in BlackRock were worth $9,142,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in BLK. BlackRock Inc. increased its stake in BlackRock by 2,775.4% in the 1st quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock worth $2,508,733,000 after acquiring an additional 6,314,004 shares during the last quarter. Third Point LLC bought a new stake in BlackRock in the 2nd quarter worth approximately $654,736,000. Harbour Capital Advisors LLC increased its stake in BlackRock by 38,807.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock worth $2,848,000 after acquiring an additional 1,199,932 shares during the last quarter. Capital World Investors increased its stake in BlackRock by 12.9% in the 2nd quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after acquiring an additional 810,667 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in BlackRock by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after acquiring an additional 656,569 shares during the last quarter. 82.24% of the stock is currently owned by institutional investors and hedge funds.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, beating the consensus estimate of $5.49 by $0.43. BlackRock had a return on equity of 12.09% and a net margin of 29.52%. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter last year, the firm earned $5.14 earnings per share. The business’s revenue for the quarter was up 14.0% on a year-over-year basis.
In other BlackRock news, insider Mark Mccombe sold 1,000 shares of the firm’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $478.99, for a total transaction of $478,990.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total value of $1,526,264.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,775 shares of company stock valued at $2,053,412. Insiders own 1.86% of the company’s stock.
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BLK has been the topic of a number of research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $460.00 price objective (up previously from $422.00) on shares of BlackRock in a research note on Monday, July 10th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $425.00 price objective (up previously from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $440.00 price objective on shares of BlackRock in a research note on Friday, July 14th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $534.00 price objective on shares of BlackRock in a research note on Tuesday, July 18th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $455.00 price objective (down previously from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. BlackRock presently has a consensus rating of “Buy” and an average target price of $489.08.
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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