Cannell Peter B & Co. Inc. acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,495 shares of the asset manager’s stock, valued at approximately $705,000.
Other hedge funds also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in BlackRock during the third quarter worth approximately $116,000. AlphaMark Advisors LLC acquired a new stake in BlackRock during the second quarter worth approximately $147,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in BlackRock during the second quarter worth approximately $150,000. Kaizen Advisory LLC increased its holdings in shares of BlackRock by 156.7% in the 2nd quarter. Kaizen Advisory LLC now owns 308 shares of the asset manager’s stock valued at $154,000 after acquiring an additional 188 shares during the period. Finally, Canton Hathaway LLC acquired a new position in shares of BlackRock in the 3rd quarter valued at $146,000. 82.65% of the stock is currently owned by institutional investors.
Shares of BlackRock stock opened at $421.39 on Friday. The firm has a market capitalization of $65.98 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 1.24 and a beta of 1.54. BlackRock, Inc. has a 12 month low of $376.31 and a 12 month high of $594.52. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.87 and a current ratio of 3.87.
A number of equities analysts have recently commented on BLK shares. JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $541.00 to $592.00 and gave the company a “buy” rating in a report on Monday, October 8th. Citigroup cut their target price on shares of BlackRock to $500.00 and set a “buy” rating on the stock in a report on Wednesday, October 17th. Morgan Stanley cut their target price on shares of BlackRock from $607.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, October 9th. Goldman Sachs Group cut shares of BlackRock from a “conviction-buy” rating to a “buy” rating in a report on Wednesday, October 17th. Finally, Deutsche Bank lifted their target price on shares of BlackRock from $549.00 to $559.00 and gave the company a “buy” rating in a report on Thursday, September 27th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $569.08.
In other news, Director William E. Ford acquired 2,000 shares of the company’s stock in a transaction on Monday, October 22nd. The shares were bought at an average cost of $395.21 per share, with a total value of $790,420.00. Following the purchase, the director now owns 9,466 shares of the company’s stock, valued at approximately $3,741,057.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.86% of the company’s stock.
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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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