Eastern Bank buys $12,716,780 stake in BlackRock (BLK)

BlackRock (BLK) : Eastern Bank scooped up 27,313 additional shares in BlackRock during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 17, 2016. The investment management firm now holds a total of 35,831 shares of BlackRock which is valued at $12,716,780.BlackRock makes up approximately 1.04% of Eastern Bank’s portfolio.

Other Hedge Funds, Including , Jolley Asset Management reduced its stake in BLK by selling 30 shares or 6.19% in the most recent quarter. The Hedge Fund company now holds 455 shares of BLK which is valued at $161,484. BlackRock makes up approx 0.13% of Jolley Asset Management’s portfolio.Harwood Advisory Group boosted its stake in BLK in the latest quarter, The investment management firm added 1,263 additional shares and now holds a total of 6,861 shares of BlackRock which is valued at $2,435,038. BlackRock makes up approx 1.92% of Harwood Advisory Group’s portfolio.Prospera Financial Services Inc reduced its stake in BLK by selling 57 shares or 8.58% in the most recent quarter. The Hedge Fund company now holds 607 shares of BLK which is valued at $213,585. BlackRock makes up approx 0.04% of Prospera Financial Services Inc’s portfolio. Contravisory Investment Management added BLK to its portfolio by purchasing 5 company shares during the most recent quarter which is valued at $1,794.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.

BlackRock opened for trading at $354.8 and hit $357.27 on the upside on Friday, eventually ending the session at $354.91, with a gain of 1.59% or 5.57 points. The heightened volatility saw the trading volume jump to 7,90,278 shares. Company has a market cap of $57,736 M.

On the company’s financial health, BlackRock reported $5.14 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Oct 18, 2016. Analyst had a consensus of $4.99. The company had revenue of $2837.00 million for the quarter, compared to analysts expectations of $2893.96 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $5.00 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 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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