Trading Report: The Supplemental Annuity Collective Trust of NJ decides to keep it stake in BlackRock Inc. (BLK) to the level of $885,000

The Supplemental Annuity Collective Trust of NJ decides to keep it stake in BlackRock Inc. (BLK) to the level of $885,000

Supplemental Annuity Collective Trust of NJ continued to hold its stake in BlackRock Inc. (NYSE:BLK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,584 shares of the company’s stock at the end of the second quarter. Supplemental Annuity Collective Trust of NJ’s holdings in BlackRock were worth $885,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its stake in BlackRock by 20.6% in the first quarter. Jones Financial Companies Lllp now owns 8,675 shares of the company’s stock worth $2,954,000 after buying an additional 1,483 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in BlackRock during the first quarter worth about $842,000. Legal & General Group Plc boosted its stake in BlackRock by 1.7% in the first quarter. Legal & General Group Plc now owns 525,766 shares of the company’s stock worth $179,060,000 after buying an additional 8,694 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in BlackRock by 7.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 204,080 shares of the company’s stock worth $69,504,000 after buying an additional 13,400 shares during the period. Finally, National Pension Service boosted its stake in BlackRock by 4.2% in the first quarter. National Pension Service now owns 69,470 shares of the company’s stock worth $23,659,000 after buying an additional 2,784 shares during the period. Institutional investors own 81.57% of the company’s stock.

BlackRock Inc. (NYSE:BLK) traded down 0.17% during mid-day trading on Friday, hitting $339.69. 614,011 shares of the stock traded hands. The stock has a market capitalization of $55.66 billion, a PE ratio of 17.85 and a beta of 1.46. BlackRock Inc. has a one year low of $280.55 and a one year high of $376.65. The company has a 50 day moving average price of $356.90 and a 200-day moving average price of $357.79.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, October 18th. The company reported $5.14 EPS for the quarter, topping the consensus estimate of $4.98 by $0.16. The business earned $2.84 billion during the quarter, compared to the consensus estimate of $1.01 billion. BlackRock had a net margin of 28.59% and a return on equity of 11.07%. BlackRock’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.00 EPS. Equities analysts anticipate that BlackRock Inc. will post $19.24 earnings per share for the current fiscal year.

A number of brokerages have recently commented on BLK. Goldman Sachs Group Inc. lowered shares of BlackRock from a “conviction-buy” rating to a “buy” rating and upped their price objective for the company from $390.00 to $400.00 in a research report on Monday, August 8th. Deutsche Bank AG upped their price objective on shares of BlackRock from $404.00 to $414.00 and gave the company a “buy” rating in a research report on Friday, September 9th. Barclays PLC upped their price objective on shares of BlackRock from $364.00 to $375.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 24th. Vetr lowered shares of BlackRock from a “buy” rating to a “hold” rating and set a $382.97 price objective for the company. in a research report on Tuesday, August 16th. Finally, Zacks Investment Research raised shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $387.80.

In other BlackRock news, Director Susan Wagner sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $368.29, for a total value of $9,207,250.00. Following the completion of the sale, the director now owns 537,365 shares of the company’s stock, valued at approximately $197,906,155.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan Stork sold 1,400 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $367.24, for a total transaction of $514,136.00. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

BlackRock Company Profile

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.

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