Today: Boston Financial Mangement LLC Cuts Stake in BlackRock Inc. (BLK)

Today: Boston Financial Mangement LLC Cuts Stake in BlackRock Inc. (BLK)

Boston Financial Mangement LLC lowered its position in BlackRock Inc. (NYSE:BLK) by 1.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,571 shares of the company’s stock after selling 375 shares during the period. BlackRock comprises about 0.8% of Boston Financial Mangement LLC’s investment portfolio, making the stock its 29th largest position. Boston Financial Mangement LLC’s holdings in BlackRock were worth $9,993,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Ropes Wealth Advisors LLC boosted its stake in shares of BlackRock by 0.3% in the second quarter. Ropes Wealth Advisors LLC now owns 388 shares of the company’s stock worth $133,000 after buying an additional 1 shares during the last quarter. HBK Sorce Advisory LLC boosted its stake in shares of BlackRock by 0.8% in the second quarter. HBK Sorce Advisory LLC now owns 608 shares of the company’s stock worth $208,000 after buying an additional 5 shares during the last quarter. Burke & Herbert Bank & Trust Co. boosted its stake in shares of BlackRock by 0.5% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 1,249 shares of the company’s stock worth $428,000 after buying an additional 6 shares during the last quarter. Private Bank & Trust Co. boosted its stake in shares of BlackRock by 0.6% in the second quarter. Private Bank & Trust Co. now owns 1,331 shares of the company’s stock worth $456,000 after buying an additional 8 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of BlackRock by 1.9% in the third quarter. Quadrant Capital Group LLC now owns 540 shares of the company’s stock worth $187,000 after buying an additional 10 shares during the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Shares of BlackRock Inc. (NYSE:BLK) traded down 1.39% on Monday, reaching $368.49. The company had a trading volume of 190,796 shares. The firm has a market capitalization of $60.38 billion, a PE ratio of 19.36 and a beta of 1.65. BlackRock Inc. has a 12 month low of $280.55 and a 12 month high of $380.30. The company’s 50-day moving average is $356.23 and its 200 day moving average is $358.33.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, October 18th. The company reported $5.14 EPS for the quarter, beating the Zacks’ consensus estimate of $4.98 by $0.16. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $1.01 billion. BlackRock had a return on equity of 11.04% and a net margin of 28.59%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.00 EPS. Equities analysts forecast that BlackRock Inc. will post $19.25 earnings per share for the current year.

Several equities analysts recently commented on the company. Zacks Investment Research raised BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Jefferies Group reissued a “hold” rating on shares of BlackRock in a research report on Friday, August 5th. Deutsche Bank AG reissued a “buy” rating and set a $416.00 price target (up from $415.00) on shares of BlackRock in a research report on Wednesday, October 19th. Vetr lowered BlackRock from a “buy” rating to a “hold” rating and set a $382.97 price target on the stock. in a research report on Tuesday, August 16th. Finally, Barclays PLC boosted their price target on BlackRock from $353.00 to $364.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 9th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. BlackRock has a consensus rating of “Buy” and a consensus price target of $387.80.

In other BlackRock news, Director William S. Demchak bought 1,200 shares of the stock in a transaction on Thursday, October 27th. The shares were purchased at an average price of $341.11 per share, with a total value of $409,332.00. Following the acquisition, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $409,332. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Mccombe sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $374.92, for a total value of $524,888.00. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

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