New Potomac Partners LLC lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,077 shares of the asset manager’s stock after acquiring an additional 35 shares during the period. BlackRock makes up approximately 2.3% of New Potomac Partners LLC’s portfolio, making the stock its 9th largest position. New Potomac Partners LLC’s holdings in BlackRock were worth $2,263,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of BlackRock by 1.2% during the second quarter. BlackRock Inc. now owns 7,642,761 shares of the asset manager’s stock valued at $3,586,748,000 after acquiring an additional 89,230 shares in the last quarter. Northern Trust Corp grew its position in BlackRock by 1.7% in the 2nd quarter. Northern Trust Corp now owns 1,706,376 shares of the asset manager’s stock worth $800,801,000 after purchasing an additional 28,720 shares during the period. Charles Schwab Investment Management Inc. grew its position in BlackRock by 3.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 912,329 shares of the asset manager’s stock worth $428,156,000 after purchasing an additional 29,474 shares during the period. Nuveen Asset Management LLC grew its position in BlackRock by 20,980.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 895,908 shares of the asset manager’s stock worth $420,451,000 after purchasing an additional 891,658 shares during the period. Finally, Thoroughbred Financial Services LLC grew its position in BlackRock by 50,843.9% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 485,495 shares of the asset manager’s stock worth $48,550,000 after purchasing an additional 484,542 shares during the period. 81.84% of the stock is owned by institutional investors.
In other news, insider Jerkovic Milan 2,522,596 shares of the stock in a transaction dated Wednesday, October 9th. Also, Director J. Richard Kushel sold 2,000 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $446.74, for a total transaction of $893,480.00. The disclosure for this sale can be found here. Insiders own 1.42% of the company’s stock.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, October 15th. The asset manager reported $7.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.95 by $0.20. BlackRock had a net margin of 29.31% and a return on equity of 13.00%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the previous year, the firm posted $7.52 EPS. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities analysts expect that BlackRock, Inc. will post 27.54 earnings per share for the current fiscal year.
A number of research firms have commented on BLK. Morgan Stanley lifted their target price on shares of BlackRock from $547.00 to $554.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Barclays reaffirmed a “buy” rating and issued a $485.00 target price on shares of BlackRock in a research report on Wednesday, October 9th. JPMorgan Chase & Co. cut their target price on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. UBS Group lifted their target price on shares of BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Finally, ValuEngine downgraded shares of BlackRock from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. BlackRock has an average rating of “Buy” and an average target price of $498.49.
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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