Braun Stacey Associates Inc. Sells 1,733 Shares of BlackRock, Inc. (NYSE:BLK)

Braun Stacey Associates Inc. reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 6.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,824 shares of the asset manager’s stock after selling 1,733 shares during the quarter. Braun Stacey Associates Inc.’s holdings in BlackRock were worth $22,621,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BLK. GLOBALT Investments LLC GA increased its holdings in shares of BlackRock by 3.2% in the third quarter. GLOBALT Investments LLC GA now owns 1,121 shares of the asset manager’s stock valued at $1,064,000 after purchasing an additional 35 shares during the last quarter. TrinityPoint Wealth LLC increased its holdings in shares of BlackRock by 3.8% in the third quarter. TrinityPoint Wealth LLC now owns 1,494 shares of the asset manager’s stock valued at $1,419,000 after purchasing an additional 54 shares during the last quarter. Claro Advisors LLC grew its stake in shares of BlackRock by 9.0% in the third quarter. Claro Advisors LLC now owns 1,820 shares of the asset manager’s stock valued at $1,728,000 after acquiring an additional 151 shares in the last quarter. Concord Asset Management LLC VA increased its position in BlackRock by 3.8% during the third quarter. Concord Asset Management LLC VA now owns 462 shares of the asset manager’s stock worth $439,000 after acquiring an additional 17 shares during the period. Finally, Mechanics Financial Corp raised its stake in BlackRock by 0.6% in the 3rd quarter. Mechanics Financial Corp now owns 1,947 shares of the asset manager’s stock worth $1,849,000 after purchasing an additional 12 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Up 0.0 %

Shares of NYSE:BLK opened at $1,047.37 on Monday. The company has a market capitalization of $162.22 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 1.87 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The business’s 50-day moving average is $969.04 and its 200-day moving average is $871.62. BlackRock, Inc. has a 1 year low of $708.75 and a 1 year high of $1,068.34.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on BLK shares. StockNews.com initiated coverage on shares of BlackRock in a report on Wednesday, November 13th. They set a “hold” rating on the stock. Morgan Stanley upped their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Barclays boosted their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price target on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

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.