BlackRock $BLK Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. decreased its holdings in shares of BlackRock (NYSE:BLK) by 3.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 121,612 shares of the asset manager’s stock after selling 4,537 shares during the quarter. Beutel Goodman & Co Ltd.’s holdings in BlackRock were worth $128,700,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Santa Clara Valley Transportation Authority purchased a new stake in shares of BlackRock during the 2nd quarter worth approximately $129,138,253,000. BlackRock Inc. purchased a new position in shares of BlackRock in the 2nd quarter valued at $9,747,857,000. Temasek Holdings Private Ltd grew its position in shares of BlackRock by 4.7% in the 1st quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager’s stock valued at $5,126,387,000 after buying an additional 237,667 shares during the last quarter. Bank of America Corp DE grew its position in shares of BlackRock by 0.7% in the 1st quarter. Bank of America Corp DE now owns 5,232,973 shares of the asset manager’s stock valued at $5,032,603,000 after buying an additional 35,069 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in BlackRock by 23.3% during the 2nd quarter. Wellington Management Group LLP now owns 4,495,074 shares of the asset manager’s stock worth $4,322,283,000 after acquiring an additional 850,406 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Stock Up 3.2%

BlackRock stock opened at $1,216.17 on Tuesday. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,242.12. The stock has a 50 day moving average of $1,105.98 and a two-hundred day moving average of $1,065.92. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $188.35 billion, a price-to-earnings ratio of 27.65, a PEG ratio of 1.27 and a beta of 1.37.

BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, October 14th. The asset manager reported $15.93 earnings per share for the quarter, beating the consensus estimate of $14.32 by $1.61. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.42 billion. BlackRock had a return on equity of 16.08% and a net margin of 24.22%. The company’s revenue was up 19.1% on a year-over-year basis. During the same period last year, the business posted $8.43 EPS. As a group, research analysts expect that BlackRock will post 57.82 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BLK. Weiss Ratings raised shares of BlackRock from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, November 2nd. BNP Paribas Exane raised their price objective on BlackRock from $1,370.00 to $1,430.00 and gave the stock an “outperform” rating in a report on Thursday, October 15th. Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Bank of America cut their target price on BlackRock from $1,320.00 to $1,287.00 in a research report on Monday, October 5th. Finally, BMO Capital Markets boosted their target price on BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a report on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $1,342.25.

BlackRock Profile

BlackRock, Inc is a global investment management and financial technology company serving individuals, institutions, governments and other organizations. Founded in 1988, the company is headquartered in New York City and operates in markets around the world.

BlackRock offers investment products and services across asset classes, including equities, fixed income, cash management and alternative investments. Its offerings include exchange-traded funds and other funds under the iShares brand, as well as portfolio management, investment advisory and risk management services.

The company also provides Aladdin, a technology platform used by investors and financial institutions for portfolio management, operations and risk analysis.