Advisory Services Network buys $2,041,455 stake in BlackRock (BLK)

BlackRock (BLK) : Advisory Services Network scooped up 177 additional shares in BlackRock during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 5,715 shares of BlackRock which is valued at $2,041,455.BlackRock makes up approximately 0.39% of Advisory Services Network’s portfolio.

Other Hedge Funds, Including , Central Bank Trust Co reduced its stake in BLK by selling 22 shares or 9.65% in the most recent quarter. The Hedge Fund company now holds 206 shares of BLK which is valued at $73,585. BlackRock makes up approx 0.02% of Central Bank Trust Co’s portfolio.Franklin Street Advisors Inc Nc reduced its stake in BLK by selling 1,073 shares or 3.16% in the most recent quarter. The Hedge Fund company now holds 32,832 shares of BLK which is valued at $11,761,736. BlackRock makes up approx 2.16% of Franklin Street Advisors Inc Nc’s portfolio.Chevy Chase Trust Holdings reduced its stake in BLK by selling 2,922 shares or 2.58% in the most recent quarter. The Hedge Fund company now holds 110,315 shares of BLK which is valued at $39,519,246. BlackRock makes up approx 0.22% of Chevy Chase Trust Holdings’s portfolio.Independent Portfolio Consultants reduced its stake in BLK by selling 70 shares or 3.37% in the most recent quarter. The Hedge Fund company now holds 2,007 shares of BLK which is valued at $718,988. BlackRock makes up approx 0.23% of Independent Portfolio Consultants’s portfolio.Indiana Trust Investment Management Co reduced its stake in BLK by selling 116 shares or 2.11% in the most recent quarter. The Hedge Fund company now holds 5,383 shares of BLK which is valued at $1,928,406. BlackRock makes up approx 1.01% of Indiana Trust Investment Management Co’s portfolio.

BlackRock opened for trading at $356.99 and hit $358.6 on the upside on Friday, eventually ending the session at $357.21, with a gain of 0.11% or 0.41 points. The heightened volatility saw the trading volume jump to 7,89,321 shares. Company has a market cap of $58,110 M.

On the company’s financial health, BlackRock reported $4.78 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 14, 2016. Analyst had a consensus of $4.79. The company had revenue of $2804.00 million for the quarter, compared to analysts expectations of $2805.03 million. The company’s revenue was down -3.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $4.96 EPS.

Many Wall Street Analysts have commented on BlackRock. Company shares were Reiterated by Deutsche Bank on Sep 9, 2016 to “Buy”, Firm has raised the Price Target to $ 414 from a previous price target of $404 .BlackRock was Downgraded by Keefe Bruyette to ” Mkt Perform” on Jul 15, 2016.

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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