Modera Wealth Management LLC Has $57.65 Million Position in BlackRock, Inc. (NYSE:BLK)

Modera Wealth Management LLC decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,716 shares of the asset manager’s stock after selling 684 shares during the period. Modera Wealth Management LLC’s holdings in BlackRock were worth $57,650,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in shares of BlackRock in the 1st quarter worth about $27,000. Fairscale Capital LLC bought a new position in shares of BlackRock in the second quarter valued at approximately $31,000. MFA Wealth Advisors LLC boosted its position in shares of BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares during the last quarter. Chilton Capital Management LLC bought a new stake in BlackRock during the first quarter worth $38,000. Finally, City Holding Co. purchased a new stake in BlackRock in the 3rd quarter valued at $55,000. 80.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. UBS Group decreased their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. TD Cowen lifted their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Argus upped their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. 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 report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average price target of $995.31.

Insider Activity at BlackRock

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now owns 5,732 shares in the company, valued at $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Mark Wiedman sold 11,061 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,527,116. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares in the company, valued at $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,042 shares of company stock worth $56,857,777. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Down 1.0 %

BLK stock opened at $974.07 on Friday. The stock has a fifty day moving average of $928.50 and a 200-day moving average of $844.05. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $1,032.00. The company has a market capitalization of $144.75 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 1.94 and a beta of 1.30. 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 issued its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same quarter last year, the business earned $10.91 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, equities research analysts predict that BlackRock, Inc. will post 41.73 earnings per share for the current year.

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.