BlackRock, Inc. (BLK) Holdings Increased by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC raised its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 22.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,141 shares of the asset manager’s stock after acquiring an additional 32,541 shares during the period. Lord Abbett & CO. LLC owned approximately 0.11% of BlackRock worth $76,093,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BLK. Salem Investment Counselors Inc. raised its stake in BlackRock by 14.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock valued at $101,000 after acquiring an additional 30 shares in the last quarter. Proficio Capital Partners LLC raised its stake in BlackRock by 48.9% during the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after acquiring an additional 85 shares in the last quarter. Enterprise Financial Services Corp raised its stake in shares of BlackRock by 52.5% in the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after buying an additional 85 shares in the last quarter. Penserra Capital Management LLC bought a new stake in shares of BlackRock in the 2nd quarter worth $104,000. Finally, Kings Point Capital Management raised its stake in shares of BlackRock by 34.5% in the 1st quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after buying an additional 70 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BlackRock, Inc. (BLK) traded down 0.63% during midday trading on Tuesday, hitting $474.96. The stock had a trading volume of 131,766 shares. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $485.23. The stock has a 50 day moving average price of $437.85 and a 200-day moving average price of $416.14. The stock has a market capitalization of $76.75 billion, a price-to-earnings ratio of 22.25 and a beta of 1.72.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.49 by $0.43. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. BlackRock had a return on equity of 12.09% and a net margin of 29.52%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.14 EPS. Equities research analysts anticipate that BlackRock, Inc. will post $22.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th were paid a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is currently 46.82%.

In other news, insider Mark Mccombe sold 1,000 shares of the stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $478.99, for a total value of $478,990.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total value of $1,526,264.25. The disclosure for this sale can be found here. In the last three months, insiders sold 5,025 shares of company stock worth $2,162,130. 1.86% of the stock is currently owned by company insiders.

TRADEMARK VIOLATION WARNING: “BlackRock, Inc. (BLK) Holdings Increased by Lord Abbett & CO. LLC” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/17/blackrock-inc-blk-holdings-increased-by-lord-abbett-co-llc.html.

A number of analysts have recently commented on BLK shares. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $440.00 price objective on shares of BlackRock in a research note on Friday, July 14th. Goldman Sachs Group, Inc. (The) raised BlackRock from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $440.00 to $500.00 in a research note on Thursday, September 28th. Wells Fargo & Company reissued a “market perform” rating and issued a $475.00 price objective (up previously from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. Bank of America Corporation reissued a “buy” rating and issued a $450.00 price objective on shares of BlackRock in a research note on Monday, June 19th. Finally, Barclays PLC started coverage on BlackRock in a research note on Friday, September 8th. They issued an “overweight” rating and a $475.00 price objective on the stock. Four equities research analysts have rated the stock wi

A number of other institutional investors have also made changes to their positions in BLK. Salem Investment Counselors Inc. raised its stake in BlackRock by 14.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock valued at $101,000 after acquiring an additional 30 shares in the last quarter. Proficio Capital Partners LLC raised its stake in BlackRock by 48.9% during the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after acquiring an additional 85 shares in the last quarter. Enterprise Financial Services Corp raised its stake in shares of BlackRock by 52.5% in the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after buying an additional 85 shares in the last quarter. Penserra Capital Management LLC bought a new stake in shares of BlackRock in the 2nd quarter worth $104,000. Finally, Kings Point Capital Management raised its stake in shares of BlackRock by 34.5% in the 1st quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after buying an additional 70 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BlackRock, Inc. (BLK) traded down 0.63% during midday trading on Tuesday, hitting $474.96. The stock had a trading volume of 131,766 shares. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $485.23. The stock has a 50 day moving average price of $437.85 and a 200-day moving average price of $416.14. The stock has a market capitalization of $76.75 billion, a price-to-earnings ratio of 22.25 and a beta of 1.72.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.49 by $0.43. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. BlackRock had a return on equity of 12.09% and a net margin of 29.52%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.14 EPS. Equities research analysts anticipate that BlackRock, Inc. will post $22.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th were paid a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is currently 46.82%.

In other news, insider Mark Mccombe sold 1,000 shares of the stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $478.99, for a total value of $478,990.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total value of $1,526,264.25. The disclosure for this sale can be found here. In the last three months, insiders sold 5,025 shares of company stock worth $2,162,130. 1.86% of the stock is currently owned by company insiders.

TRADEMARK VIOLATION WARNING: “BlackRock, Inc. (BLK) Holdings Increased by Lord Abbett & CO. LLC” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/17/blackrock-inc-blk-holdings-increased-by-lord-abbett-co-llc.html.

A number of analysts have recently commented on BLK shares. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $440.00 price objective on shares of BlackRock in a research note on Friday, July 14th. Goldman Sachs Group, Inc. (The) raised BlackRock from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $440.00 to $500.00 in a research note on Thursday, September 28th. Wells Fargo & Company reissued a “market perform” rating and issued a $475.00 price objective (up previously from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. Bank of America Corporation reissued a “buy” rating and issued a $450.00 price objective on shares of BlackRock in a research note on Monday, June 19th. Finally, Barclays PLC started coverage on BlackRock in a research note on Friday, September 8th. They issued an “overweight” rating and a $475.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $478.50.

BlackRock Profile

BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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