FineMark National Bank & Trust lowered its position in shares of BlackRock, Inc. (NYSE:BLK – Get Rating) by 1.2% during the fourth quarter, Holdings Channel reports. The firm owned 37,596 shares of the asset manager’s stock after selling 461 shares during the quarter. BlackRock makes up about 1.3% of FineMark National Bank & Trust’s portfolio, making the stock its 11th largest holding. FineMark National Bank & Trust’s holdings in BlackRock were worth $34,422,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Steward Financial Group LLC acquired a new position in BlackRock in the 4th quarter valued at about $27,000. Sierra Capital LLC acquired a new position in BlackRock in the 4th quarter valued at about $29,000. Industrial Alliance Investment Management Inc. acquired a new position in BlackRock in the 4th quarter valued at about $29,000. Disciplined Investments LLC acquired a new position in BlackRock in the 4th quarter valued at about $30,000. Finally, Delos Wealth Advisors LLC acquired a new position in BlackRock in the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 93.81% of the company’s stock.
Several equities analysts recently issued reports on BLK shares. The Goldman Sachs Group dropped their price target on BlackRock from $1,000.00 to $800.00 and set a “buy” rating on the stock in a research report on Monday, March 14th. Exane BNP Paribas cut BlackRock from an “outperform” rating to a “neutral” rating and set a $725.00 price target for the company. in a report on Tuesday, March 8th. StockNews.com started coverage on BlackRock in a report on Thursday, March 31st. They set a “hold” rating on the stock. BNP Paribas downgraded BlackRock from an “outperform” rating to a “neutral” rating and set a $725.00 target price for the company. in a report on Tuesday, March 8th. Finally, Morgan Stanley cut their price target on shares of BlackRock from $966.00 to $932.00 and set an “overweight” rating for the company in a report on Thursday, April 14th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $869.47.
BLK stock traded up $7.36 on Friday, reaching $600.44. The company had a trading volume of 1,200,898 shares, compared to its average volume of 1,147,151. BlackRock, Inc. has a 1 year low of $582.58 and a 1 year high of $973.16. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.33 and a current ratio of 4.33. The company’s fifty day moving average is $687.44 and its 200 day moving average is $794.41. The company has a market cap of $90.97 billion, a P/E ratio of 15.09, a PEG ratio of 1.85 and a beta of 1.28.
BlackRock (NYSE:BLK – Get Rating) last issued its quarterly earnings results on Wednesday, April 13th. The asset manager reported $9.52 earnings per share for the quarter, topping analysts’ consensus estimates of $8.92 by $0.60. BlackRock had a return on equity of 17.00% and a net margin of 31.20%. The company had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the prior year, the company posted $7.77 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, sell-side analysts predict that BlackRock, Inc. will post 39.43 earnings per share for the current year.
About BlackRock (Get Rating)
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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