MeadowBrook Investment Advisors LLC Sells 51 Shares of BlackRock, Inc. (NYSE:BLK)

MeadowBrook Investment Advisors LLC cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,281 shares of the asset manager’s stock after selling 51 shares during the quarter. BlackRock accounts for 1.1% of MeadowBrook Investment Advisors LLC’s portfolio, making the stock its 23rd biggest position. MeadowBrook Investment Advisors LLC’s holdings in BlackRock were worth $1,216,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Marino Stram & Associates LLC lifted its holdings in shares of BlackRock by 0.3% in the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after buying an additional 10 shares in the last quarter. Onyx Bridge Wealth Group LLC increased its holdings in BlackRock by 3.5% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after acquiring an additional 11 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of BlackRock by 0.3% during the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after purchasing an additional 11 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of BlackRock by 0.4% during the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock valued at $2,829,000 after purchasing an additional 11 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of BlackRock by 0.7% in the third quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock worth $1,447,000 after purchasing an additional 11 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Trading Up 1.7 %

BlackRock stock traded up $17.74 during mid-day trading on Thursday, hitting $1,048.72. The company’s stock had a trading volume of 168,726 shares, compared to its average volume of 570,742. BlackRock, Inc. has a one year low of $697.70 and a one year high of $1,068.34. The stock has a market cap of $155.35 billion, a PE ratio of 25.44, a P/E/G ratio of 1.85 and a beta of 1.30. The company has a 50 day moving average of $962.02 and a 200-day moving average of $866.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the business posted $10.91 EPS. On average, research analysts anticipate that BlackRock, Inc. will post 43.17 EPS for the current year.

Insider Activity

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on BLK shares. Barclays raised their price target on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. upped their price target on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. TD Cowen lifted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. StockNews.com assumed coverage on shares of BlackRock in a report on Wednesday. They issued a “hold” rating for the company. Finally, Wells Fargo & Company boosted their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,019.62.

About BlackRock

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.