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

Key Points

• Beutel Goodman cut its BlackRock stake by 3.6% in the third quarter, selling 4,537 shares. It still held 121,612 shares valued at about $128.7 million at quarter-end.
• BlackRock reported quarterly EPS of $15.93, beating estimates of $14.32, while revenue of $7.75 billion also topped expectations and rose 19.1% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $1,342.25; shares opened at $1,216.17 after the article reported a 3.2% rise.

Beutel Goodman & Co Ltd. lowered its stake in BlackRock (NYSE:BLK - Free Report) by 3.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 121,612 shares of the asset manager's stock after selling 4,537 shares during the quarter. Beutel Goodman & Co Ltd. owned about 0.08% of BlackRock worth $128,700,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BLK. BlackRock Inc. acquired a new stake in shares of BlackRock during the second quarter valued at about $9,747,857,000. Bank of America Corp DE acquired a new position in shares of BlackRock in the 2nd quarter worth approximately $4,409,095,000. Santa Clara Valley Transportation Authority acquired a new position in shares of BlackRock in the 2nd quarter worth approximately $129,138,253,000. Wellington Management Group LLP lifted its holdings in shares of BlackRock by 23.3% in 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 during the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of BlackRock during the 2nd quarter worth approximately $807,039,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Stock Up 3.2%

Shares of BlackRock stock opened at $1,216.17 on Tuesday. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,242.12. The company has a 50 day moving average of $1,105.98 and a 200 day moving average of $1,065.92. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $188.35 billion, a P/E ratio of 27.65, a P/E/G ratio of 1.27 and a beta of 1.37.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on BLK. Deutsche Bank Aktiengesellschaft lifted their target price on shares of BlackRock from $1,315.00 to $1,355.00 and gave the company a "buy" rating in a report on Thursday, October 15th. Zacks Research lowered BlackRock from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Bank of America decreased their price target on BlackRock from $1,320.00 to $1,287.00 in a research note on Monday, October 5th. Wells Fargo & Company raised their price target on BlackRock from $1,230.00 to $1,250.00 and gave the stock an "overweight" rating in a research report on Thursday, October 15th. Finally, TD Cowen raised BlackRock from a "hold" rating to a "buy" rating and lifted their price objective for the company from $1,212.00 to $1,405.00 in a research note on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.

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