Stillwater Capital Advisors LLC decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 0.4% during the first quarter, Holdings Channel reports. The institutional investor owned 23,775 shares of the asset manager’s stock after selling 105 shares during the quarter. BlackRock accounts for 2.2% of Stillwater Capital Advisors LLC’s portfolio, making the stock its 21st largest position. Stillwater Capital Advisors LLC’s holdings in BlackRock were worth $10,161,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Boston Financial Mangement LLC boosted its holdings in shares of BlackRock by 1.1% in the first quarter. Boston Financial Mangement LLC now owns 23,980 shares of the asset manager’s stock worth $10,248,000 after buying an additional 263 shares during the last quarter. First Merchants Corp boosted its holdings in shares of BlackRock by 29.0% in the first quarter. First Merchants Corp now owns 7,145 shares of the asset manager’s stock worth $3,053,000 after buying an additional 1,607 shares during the last quarter. OLD Second National Bank of Aurora boosted its holdings in shares of BlackRock by 1.6% in the first quarter. OLD Second National Bank of Aurora now owns 11,992 shares of the asset manager’s stock worth $5,125,000 after buying an additional 190 shares during the last quarter. Security National Trust Co. boosted its holdings in shares of BlackRock by 8.4% in the first quarter. Security National Trust Co. now owns 5,585 shares of the asset manager’s stock worth $2,387,000 after buying an additional 432 shares during the last quarter. Finally, Northwest Investment Counselors LLC boosted its holdings in shares of BlackRock by 10.1% in the first quarter. Northwest Investment Counselors LLC now owns 5,340 shares of the asset manager’s stock worth $2,282,000 after buying an additional 490 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.
In other news, CFO Gary Shedlin sold 1,000 shares of the business’s stock in a transaction on Tuesday, January 29th. The shares were sold at an average price of $410.00, for a total value of $410,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider J. Richard Kushel sold 3,077 shares of the business’s stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $409.29, for a total transaction of $1,259,385.33. The disclosure for this sale can be found here. Insiders have sold 80,796 shares of company stock worth $33,747,321 in the last ninety days. Insiders own 1.42% of the company’s stock.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, April 16th. The asset manager reported $6.61 earnings per share for the quarter, beating the consensus estimate of $6.13 by $0.48. BlackRock had a net margin of 30.58% and a return on equity of 13.35%. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the previous year, the firm earned $6.48 earnings per share. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities research analysts predict that BlackRock, Inc. will post 27.67 EPS for the current fiscal year.
BLK has been the topic of a number of research reports. Zacks Investment Research reissued a “sell” rating on shares of BlackRock in a report on Monday, December 31st. Deutsche Bank downgraded shares of BlackRock from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $444.00 to $405.00 in a report on Thursday, January 10th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $472.00 price objective on shares of BlackRock in a report on Wednesday, January 9th. Morgan Stanley lowered their price target on shares of BlackRock from $514.00 to $489.00 and set an “overweight” rating on the stock in a report on Friday, January 4th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $427.00 price target on shares of BlackRock in a report on Wednesday, January 9th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $509.38.
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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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