Cedar Hill Associates Lowers stake in BlackRock (BLK)

BlackRock (BLK) : Cedar Hill Associates reduced its stake in BlackRock by 1.36% during the most recent quarter end. The investment management company now holds a total of 43,250 shares of BlackRock which is valued at $15,472,255 after selling 595 shares in BlackRock , the firm said in a disclosure report filed with the SEC on Apr 14, 2016.BlackRock makes up approximately 2.67% of Cedar Hill Associates’s portfolio.

BlackRock opened for trading at $353 and hit $359.45 on the upside on Monday, eventually ending the session at $358, with a gain of 0.07% or 0.26 points. The heightened volatility saw the trading volume jump to 8,42,228 shares. Company has a market cap of $59,456 M.

Other Hedge Funds, Including , Skylands Capital boosted its stake in BLK in the latest quarter, The investment management firm added 1,000 additional shares and now holds a total of 4,000 shares of BlackRock which is valued at $1,430,960. BlackRock makes up approx 0.23% of Skylands Capital’s portfolio.Heritage Investors Management Corp boosted its stake in BLK in the latest quarter, The investment management firm added 6,935 additional shares and now holds a total of 25,497 shares of BlackRock which is valued at $9,121,297. BlackRock makes up approx 0.69% of Heritage Investors Management Corp’s portfolio.Somerset Trust Co boosted its stake in BLK in the latest quarter, The investment management firm added 83 additional shares and now holds a total of 2,814 shares of BlackRock which is valued at $1,006,680. BlackRock makes up approx 0.66% of Somerset Trust Co’s portfolio.Kanaly Trust Co boosted its stake in BLK in the latest quarter, The investment management firm added 39 additional shares and now holds a total of 57 shares of BlackRock which is valued at $20,391.Trust Co Of Virginia Va boosted its stake in BLK in the latest quarter, The investment management firm added 4,552 additional shares and now holds a total of 26,024 shares of BlackRock which is valued at $8,664,951. BlackRock makes up approx 1.58% of Trust Co Of Virginia Va’s portfolio.

On the company’s financial health, BlackRock reported $4.25 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Apr 14, 2016. Analyst had a consensus of $4.30. The company had revenue of $2624.00 million for the quarter, compared to analysts expectations of $2737.66 million. The company’s revenue was down -3.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $4.89 EPS.

Many Wall Street Analysts have commented on BlackRock. BlackRock was Upgraded by Citigroup to ” Buy” on Apr 19, 2016. Company shares were Reiterated by RBC Capital Mkts on Apr 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 392 from a previous price target of $367 .Company shares were Reiterated by UBS on Apr 15, 2016 to “Buy”, Firm has raised the Price Target to $ 390 from a previous price target of $350 .

BlackRock Inc. is an investment management firm. The Company provides investment and risk management services to institutional and retail clients across the world. Its product offerings include single- and multi-asset class portfolios investing in equities fixed income alternatives and money market instruments. Products are offered directly and through intermediaries in a variety of vehicles including open-end and closed-end mutual funds iShares exchange-traded funds (ETFs) separate accounts collective investment funds and other pooled investment vehicles. The Company also offers its BlackRock Solutions investment and risk management technology platform Aladdin risk analytics and advisory services and solutions. It has $4.65 trillion of assets under management at December 31 2014.

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