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

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

Several other institutional investors also recently modified their holdings of the business. Fairscale Capital LLC purchased a new position in BlackRock in the second quarter valued at approximately $31,000. Reston Wealth Management LLC purchased a new position in BlackRock in the third quarter valued at approximately $37,000. MFA Wealth Advisors LLC lifted its stake in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares during the last quarter. Addison Advisors LLC lifted its stake in BlackRock by 81.5% in the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 22 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in BlackRock in the third quarter valued at approximately $54,000. 80.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were 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. This trade represents a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company increased their target price 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. Evercore ISI upped their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, Morgan Stanley upped their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Stock Up 0.0 %

Shares of NYSE:BLK opened at $1,047.37 on Monday. The stock’s 50-day moving average price is $969.04 and its 200-day moving average price is $871.62. BlackRock, Inc. has a 12-month low of $708.75 and a 12-month high of $1,068.34. The stock has a market capitalization of $162.22 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 1.87 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last posted 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 31.37% and a return on equity of 15.52%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the business posted $10.91 earnings per share. BlackRock’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities analysts anticipate that BlackRock, Inc. will post 43.17 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.