Renaissance Investment Group Lowers stake in BlackRock (BLK)

BlackRock (BLK) : Renaissance Investment Group reduced its stake in BlackRock by 0.01% during the most recent quarter end. The investment management company now holds a total of 9,944 shares of BlackRock which is valued at $3,473,837 after selling 1 shares in BlackRock , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.BlackRock makes up approximately 1.70% of Renaissance Investment Group’s portfolio.

Other Hedge Funds, Including , North Star Investment Management Corp. reduced its stake in BLK by selling 20 shares or 19.42% in the most recent quarter. The Hedge Fund company now holds 83 shares of BLK which is valued at $29,205. BlackRock makes up approx 0.01% of North Star Investment Management Corp.’s portfolio.Raymond James Trust N.a. reduced its stake in BLK by selling 50 shares or 0.29% in the most recent quarter. The Hedge Fund company now holds 17,125 shares of BLK which is valued at $6,144,450. BlackRock makes up approx 0.53% of Raymond James Trust N.a.’s portfolio.Trust Co Of Oklahoma boosted its stake in BLK in the latest quarter, The investment management firm added 95 additional shares and now holds a total of 2,394 shares of BlackRock which is valued at $855,161. BlackRock makes up approx 0.47% of Trust Co Of Oklahoma’s portfolio. West Oak Capital added BLK to its portfolio by purchasing 9 company shares during the most recent quarter which is valued at $3,224.

BlackRock closed down -6.93 points or -1.93% at $351.87 with 5,57,318 shares getting traded on Tuesday. Post opening the session at $357.26, the shares hit an intraday low of $350.39 and an intraday high of $357.26 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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 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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