Alley Co Lowers stake in BlackRock (BLK)

BlackRock (BLK) : Alley Co reduced its stake in BlackRock by 1.27% during the most recent quarter end. The investment management company now holds a total of 13,944 shares of BlackRock which is valued at $4.8 Million after selling 179 shares in BlackRock , the firm said in a disclosure report filed with the SEC on May 11, 2016.BlackRock makes up approximately 2.32% of Alley Co’s portfolio.

Other Hedge Funds, Including , Fukoku Mutual Life Insurance Co sold out all of its stake in BLK during the most recent quarter. The investment firm sold 7,900 shares of BLK which is valued $2.7 Million.Advantus Capital Management Inc boosted its stake in BLK in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 12,462 shares of BlackRock which is valued at $4.3 Million. BlackRock makes up approx 0.13% of Advantus Capital Management Inc’s portfolio. Barometer Capital Management added BLK to its portfolio by purchasing 3,300 company shares during the most recent quarter which is valued at $1.1 Million. BlackRock makes up approx 0.11% of Barometer Capital Management’s portfolio. Richard Bernstein Advisors added BLK to its portfolio by purchasing 6,992 company shares during the most recent quarter which is valued at $2.5 Million. BlackRock makes up approx 0.25% of Richard Bernstein Advisors’s portfolio.Garland Capital Management Inc boosted its stake in BLK in the latest quarter, The investment management firm added 620 additional shares and now holds a total of 9,865 shares of BlackRock which is valued at $3.5 Million. BlackRock makes up approx 2.70% of Garland Capital Management Inc’s portfolio.

BlackRock opened for trading at $347.61 and hit $354.15 on the upside on Monday, eventually ending the session at $351.83, with a gain of 1.31% or 4.54 points. The heightened volatility saw the trading volume jump to 4,89,029 shares. Company has a market cap of $57,477 M.

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.

Leave a Reply

BlackRock - Is it time to Sell?

Top Brokerage Firms are advising their investors on BlackRock. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.