Optimum Investment Advisors lowered its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 4.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 551 shares of the asset manager’s stock after selling 25 shares during the period. Optimum Investment Advisors’ holdings in BlackRock were worth $235,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Beech Hill Advisors Inc. bought a new position in BlackRock in the 4th quarter valued at $3,543,000. Pennsylvania Trust Co boosted its position in shares of BlackRock by 4.1% in the 4th quarter. Pennsylvania Trust Co now owns 21,052 shares of the asset manager’s stock worth $8,269,000 after purchasing an additional 828 shares during the last quarter. DNB Asset Management AS boosted its position in shares of BlackRock by 62.5% in the 4th quarter. DNB Asset Management AS now owns 32,343 shares of the asset manager’s stock worth $12,705,000 after purchasing an additional 12,444 shares during the last quarter. Gofen & Glossberg LLC IL boosted its position in shares of BlackRock by 3.9% in the 4th quarter. Gofen & Glossberg LLC IL now owns 5,833 shares of the asset manager’s stock worth $2,291,000 after purchasing an additional 221 shares during the last quarter. Finally, Dubuque Bank & Trust Co. boosted its position in shares of BlackRock by 1.5% in the 4th quarter. Dubuque Bank & Trust Co. now owns 23,979 shares of the asset manager’s stock worth $9,420,000 after purchasing an additional 347 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.
In related news, insider Jeff A. Smith sold 75 shares of BlackRock stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $479.40, for a total value of $35,955.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Robert L. Goldstein sold 5,133 shares of BlackRock stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $443.00, for a total value of $2,273,919.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,346 shares of company stock worth $20,869,645. 1.42% of the stock is owned by company insiders.
BlackRock (NYSE:BLK) last released its earnings results 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. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.30 billion. BlackRock had a return on equity of 13.35% and a net margin of 30.58%. BlackRock’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.48 earnings per share. On average, analysts anticipate that BlackRock, Inc. will post 27.78 earnings per share for the current year.
Several research analysts have recently issued reports on the company. Wells Fargo & Co raised their price target on BlackRock from $460.00 to $480.00 and gave the stock an “average” rating in a research report on Wednesday, April 17th. Morgan Stanley raised their price target on BlackRock from $536.00 to $545.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Barclays raised their price target on BlackRock from $490.00 to $515.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Citigroup raised their price target on BlackRock from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Finally, Deutsche Bank raised their price objective on BlackRock from $428.00 to $431.00 and gave the stock a “hold” rating in a research note on Friday, March 15th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price 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.
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