Donaldson Capital Management LLC Trims Holdings in BlackRock, Inc. (BLK)

Donaldson Capital Management LLC decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,848 shares of the asset manager’s stock after selling 122 shares during the quarter. Donaldson Capital Management LLC’s holdings in BlackRock were worth $1,217,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BLK. Eagle Capital Management LLC increased its position in BlackRock by 2.8% during the third quarter. Eagle Capital Management LLC now owns 5,926 shares of the asset manager’s stock worth $2,793,000 after buying an additional 164 shares during the last quarter. Blue Fin Capital Inc. lifted its position in BlackRock by 7.5% in the 3rd quarter. Blue Fin Capital Inc. now owns 4,739 shares of the asset manager’s stock valued at $2,234,000 after acquiring an additional 329 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of BlackRock during the 3rd quarter worth approximately $220,000. Standard Life Aberdeen plc increased its stake in shares of BlackRock by 10.0% during the 3rd quarter. Standard Life Aberdeen plc now owns 41,267 shares of the asset manager’s stock worth $19,451,000 after purchasing an additional 3,752 shares during the last quarter. Finally, GAM Holding AG increased its stake in shares of BlackRock by 41.7% during the 3rd quarter. GAM Holding AG now owns 2,723 shares of the asset manager’s stock worth $1,284,000 after purchasing an additional 801 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

In related news, Chairman Laurence Fink sold 5,120 shares of the business’s stock in a transaction dated Friday, January 25th. The shares were sold at an average price of $412.76, for a total transaction of $2,113,331.20. Following the transaction, the chairman now owns 1,047,039 shares in the company, valued at $432,175,817.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Gary Shedlin sold 5,400 shares of the business’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $410.74, for a total transaction of $2,217,996.00. The disclosure for this sale can be found here. Insiders have sold 85,766 shares of company stock worth $35,788,908 in the last quarter. 1.42% of the stock is owned by corporate insiders.

BLK stock opened at $474.03 on Wednesday. BlackRock, Inc. has a 12-month low of $360.79 and a 12-month high of $557.00. The stock has a market capitalization of $73.45 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 1.68 and a beta of 1.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.11 and a current ratio of 1.11.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, April 16th. The asset manager reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.13 by $0.48. BlackRock had a net margin of 30.58% and a return on equity of 13.35%. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.30 billion. During the same quarter in the previous year, the company earned $6.48 earnings per share. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, equities analysts predict that BlackRock, Inc. will post 27.67 EPS for the current year.

Several brokerages have recently issued reports on BLK. Wells Fargo & Co raised their price target on shares of BlackRock from $460.00 to $480.00 and gave the stock an “average” rating in a research note on Wednesday, April 17th. Morgan Stanley raised their price target on shares of BlackRock from $536.00 to $545.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Barclays raised their price target on shares of BlackRock from $490.00 to $515.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Citigroup raised their price target on shares of BlackRock from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Finally, Deutsche Bank raised their price target on shares of BlackRock from $428.00 to $431.00 and gave the stock a “hold” rating in a research note on Friday, March 15th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $509.38.

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BlackRock Company Profile

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.

See Also: Fundamental Analysis

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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