Park Avenue Securities LLC Acquires 843 Shares of BlackRock, Inc. (BLK)

Park Avenue Securities LLC grew its holdings in BlackRock, Inc. (NYSE:BLK) by 54.1% during the third quarter, Holdings Channel reports. The firm owned 2,400 shares of the asset manager’s stock after acquiring an additional 843 shares during the quarter. Park Avenue Securities LLC’s holdings in BlackRock were worth $1,136,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. World Asset Management Inc grew its stake in shares of BlackRock by 1.3% in the second quarter. World Asset Management Inc now owns 7,442 shares of the asset manager’s stock valued at $3,714,000 after buying an additional 99 shares in the last quarter. Intact Investment Management Inc. grew its stake in shares of BlackRock by 1.0% in the second quarter. Intact Investment Management Inc. now owns 10,300 shares of the asset manager’s stock valued at $5,144,000 after buying an additional 100 shares in the last quarter. Private Asset Management Inc. grew its stake in shares of BlackRock by 2.8% in the second quarter. Private Asset Management Inc. now owns 3,782 shares of the asset manager’s stock valued at $1,887,000 after buying an additional 103 shares in the last quarter. Pillar Pacific Capital Management LLC grew its stake in shares of BlackRock by 0.6% in the second quarter. Pillar Pacific Capital Management LLC now owns 17,449 shares of the asset manager’s stock valued at $8,708,000 after buying an additional 106 shares in the last quarter. Finally, Parsons Capital Management Inc. RI grew its stake in shares of BlackRock by 0.7% in the second quarter. Parsons Capital Management Inc. RI now owns 15,053 shares of the asset manager’s stock valued at $7,512,000 after buying an additional 108 shares in the last quarter. Institutional investors own 82.65% of the company’s stock.

BLK stock opened at $421.39 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.87 and a quick ratio of 3.87. BlackRock, Inc. has a one year low of $376.31 and a one year high of $594.52. The firm has a market cap of $65.98 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 1.24 and a beta of 1.54.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, October 16th. The asset manager reported $7.52 EPS for the quarter, topping the Zacks’ consensus estimate of $6.93 by $0.59. BlackRock had a net margin of 39.92% and a return on equity of 13.76%. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the previous year, the business posted $5.76 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 27.71 earnings per share for the current fiscal year.

In related news, Director William E. Ford acquired 2,000 shares of BlackRock stock in a transaction on Monday, October 22nd. The stock was purchased at an average cost of $395.21 per share, with a total value of $790,420.00. Following the completion of the transaction, the director now directly owns 9,466 shares in the company, valued at approximately $3,741,057.86. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.86% of the company’s stock.

Several research firms recently weighed in on BLK. Keefe, Bruyette & Woods raised shares of BlackRock from a “market perform” rating to an “outperform” rating and set a $590.00 target price for the company in a research note on Friday, July 13th. Goldman Sachs Group decreased their target price on shares of BlackRock to $570.00 and set a “buy” rating for the company in a research note on Tuesday, July 17th. Argus decreased their target price on shares of BlackRock from $620.00 to $535.00 and set a “buy” rating for the company in a research note on Wednesday, October 17th. Deutsche Bank reissued a “buy” rating and issued a $550.00 target price (down from $559.00) on shares of BlackRock in a research note on Thursday, October 11th. Finally, JPMorgan Chase & Co. raised shares of BlackRock to an “overweight” rating in a research note on Tuesday, October 9th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. BlackRock currently has a consensus rating of “Buy” and an average target price of $569.08.

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About BlackRock

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: Dividend Aristocrat Index

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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