BlackRock, Inc. (BLK) Holdings Trimmed by Donaldson Capital Management LLC
Donaldson Capital Management LLC reduced its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 19.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,114 shares of the asset manager’s stock after selling 733 shares during the period. Donaldson Capital Management LLC’s holdings in BlackRock were worth $1,468,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Truvestments Capital LLC acquired a new stake in BlackRock during the 3rd quarter worth about $116,000. AlphaMark Advisors LLC acquired a new stake in BlackRock during the 2nd quarter worth about $147,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in BlackRock during the 2nd quarter worth about $150,000. Kaizen Advisory LLC grew its holdings in BlackRock by 156.7% during the 2nd quarter. Kaizen Advisory LLC now owns 308 shares of the asset manager’s stock worth $154,000 after acquiring an additional 188 shares during the period. Finally, Canton Hathaway LLC acquired a new stake in BlackRock during the 3rd quarter worth about $146,000. Hedge funds and other institutional investors own 82.65% of the company’s stock.
Several brokerages have recently commented on BLK. ValuEngine upgraded BlackRock from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. Barclays reduced their target price on BlackRock from $615.00 to $595.00 and set an “overweight” rating for the company in a research note on Tuesday, July 17th. JPMorgan Chase & Co. raised their target price on BlackRock from $541.00 to $592.00 and gave the company a “buy” rating in a research note on Monday, October 8th. Goldman Sachs Group reduced their target price on BlackRock to $570.00 and set a “buy” rating for the company in a research note on Tuesday, July 17th. Finally, Zacks Investment Research downgraded BlackRock from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $569.08.
BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 16th. The asset manager reported $7.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $6.93 by $0.59. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.65 billion. BlackRock had a return on equity of 13.76% and a net margin of 39.92%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the business posted $5.76 EPS. On average, sell-side analysts forecast that BlackRock, Inc. will post 27.71 earnings per share for the current fiscal year.
In related news, Director William E. Ford purchased 2,000 shares of the business’s stock in a transaction on Monday, October 22nd. The stock was acquired at an average price of $395.21 per share, for a total transaction of $790,420.00. Following the purchase, the director now owns 9,466 shares of the company’s stock, valued at $3,741,057.86. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.86% of the stock is currently owned by insiders.
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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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