Pensionfund DSM Netherlands bought a new position in BlackRock Inc. (NYSE:BLK) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,000 shares of the company’s stock, valued at approximately $4,712,000.
Other hedge funds also recently added to or reduced their stakes in the company. Cohen & Steers Inc. boosted its stake in BlackRock by 5,080.7% in the second quarter. Cohen & Steers Inc. now owns 1,484,377 shares of the company’s stock worth $38,371,000 after buying an additional 1,455,725 shares during the period. Emerald Acquisition Ltd. bought a new stake in BlackRock during the second quarter worth approximately $87,641,000. JPMorgan Chase & Co. boosted its stake in BlackRock by 7.0% in the second quarter. JPMorgan Chase & Co. now owns 3,372,334 shares of the company’s stock worth $1,155,126,000 after buying an additional 219,654 shares during the period. Alleghany Corp DE boosted its stake in BlackRock by 77.8% in the second quarter. Alleghany Corp DE now owns 400,000 shares of the company’s stock worth $136,984,000 after buying an additional 175,000 shares during the period. Finally, Vanguard Group Inc. boosted its stake in BlackRock by 2.1% in the second quarter. Vanguard Group Inc. now owns 7,326,122 shares of the company’s stock worth $2,509,417,000 after buying an additional 150,093 shares during the period. Institutional investors own 80.85% of the company’s stock.
Shares of BlackRock Inc. (NYSE:BLK) traded up 0.18% during midday trading on Friday, reaching $373.67. 227,062 shares of the company’s stock traded hands. BlackRock Inc. has a 52 week low of $280.55 and a 52 week high of $380.30. The stock’s 50 day moving average is $356.23 and its 200-day moving average is $358.33. The company has a market capitalization of $61.23 billion, a PE ratio of 19.63 and a beta of 1.65.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, October 18th. The company reported $5.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.98 by $0.16. BlackRock had a return on equity of 11.04% and a net margin of 28.59%. The firm earned $2.84 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $5.00 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts forecast that BlackRock Inc. will post $19.25 earnings per share for the current fiscal year.
Several analysts have commented on the stock. Deutsche Bank AG lifted their price objective on shares of BlackRock from $412.00 to $418.00 and gave the company a “buy” rating in a research note on Wednesday, October 5th. Citigroup Inc. restated a “buy” rating and set a $400.00 price objective on shares of BlackRock in a research note on Monday, October 10th. Wells Fargo & Co. restated a “market perform” rating on shares of BlackRock in a research note on Monday, October 10th. Goldman Sachs Group Inc. cut shares of BlackRock from a “conviction-buy” rating to a “buy” rating and lifted their price objective for the company from $390.00 to $400.00 in a research note on Monday, August 8th. Finally, Zacks Investment Research upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $387.80.
In related news, Director James Grosfeld sold 25,379 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $374.22, for a total transaction of $9,497,329.38. Following the completion of the sale, the director now directly owns 514,402 shares of the company’s stock, valued at $192,499,516.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jeff A. Smith sold 125 shares of the stock in a transaction on Wednesday, October 19th. The stock was sold at an average price of $355.22, for a total value of $44,402.50. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.