Pittenger Anderson Inc buys $7.5 Million stake in BlackRock (BLK)

BlackRock (BLK) : Pittenger Anderson Inc scooped up 633 additional shares in BlackRock during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 21,662 shares of BlackRock which is valued at $7.5 Million.BlackRock makes up approximately 0.88% of Pittenger Anderson Inc’s portfolio.

Other Hedge Funds, Including , Cutler Investment Counsel boosted its stake in BLK in the latest quarter, The investment management firm added 51 additional shares and now holds a total of 18,307 shares of BlackRock which is valued at $6.4 Million. BlackRock makes up approx 1.94% of Cutler Investment Counsel’s portfolio. Wbi Investments sold out all of its stake in BLK during the most recent quarter. The investment firm sold 170,512 shares of BLK which is valued $59.2 Million.Retirement Systems Of Alabama reduced its stake in BLK by selling 991 shares or 1.51% in the most recent quarter. The Hedge Fund company now holds 64,492 shares of BLK which is valued at $23 Million. BlackRock makes up approx 0.14% of Retirement Systems Of Alabama’s portfolio.

BlackRock opened for trading at $363.44 and hit $365.4658 on the upside on Wednesday, eventually ending the session at $364.09, with a gain of 0.81% or 2.91 points. The heightened volatility saw the trading volume jump to 4,85,678 shares. Company has a market cap of $59,480 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.

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