Provise Management Group buys $6 Million stake in BlackRock (BLK)

BlackRock (BLK) : Provise Management Group scooped up 141 additional shares in BlackRock during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 17,350 shares of BlackRock which is valued at $6 Million.BlackRock makes up approximately 1.24% of Provise Management Group’s portfolio.

Other Hedge Funds, Including , Pax World Management reduced its stake in BLK by selling 37,503 shares or 71.32% in the most recent quarter. The Hedge Fund company now holds 15,081 shares of BLK which is valued at $5.2 Million. BlackRock makes up approx 0.28% of Pax World Management’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in BLK in the latest quarter, The investment management firm added 24,395 additional shares and now holds a total of 3,188,460 shares of BlackRock which is valued at $1,107.3 Million. BlackRock makes up approx 0.18% of Blackrock Institutional Trust Company N.a.’s portfolio.Meridian Management Co boosted its stake in BLK in the latest quarter, The investment management firm added 330 additional shares and now holds a total of 8,500 shares of BlackRock which is valued at $3 Million. BlackRock makes up approx 1.85% of Meridian Management Co’s portfolio.Nisa Investment Advisors L.l.c. reduced its stake in BLK by selling 175 shares or 0.47% in the most recent quarter. The Hedge Fund company now holds 36,985 shares of BLK which is valued at $13.2 Million. BlackRock makes up approx 0.19% of Nisa Investment Advisors L.l.c.’s portfolio.Parsons Capital Management Incri boosted its stake in BLK in the latest quarter, The investment management firm added 119 additional shares and now holds a total of 15,359 shares of BlackRock which is valued at $5.5 Million. BlackRock makes up approx 0.75% of Parsons Capital Management Incri’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.

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