Meadow Creek Wealth Advisors LLC Invests $269,000 in BlackRock, Inc. (NYSE:BLK)

Meadow Creek Wealth Advisors LLC acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 283 shares of the asset manager’s stock, valued at approximately $269,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BLK. AdvisorNet Financial Inc boosted its position in shares of BlackRock by 32.8% during the 1st quarter. AdvisorNet Financial Inc now owns 498 shares of the asset manager’s stock valued at $415,000 after acquiring an additional 123 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in shares of BlackRock by 4.5% during the 1st quarter. Gateway Investment Advisers LLC now owns 2,873 shares of the asset manager’s stock valued at $2,395,000 after acquiring an additional 125 shares in the last quarter. West Paces Advisors Inc. boosted its position in shares of BlackRock by 10.1% during the 1st quarter. West Paces Advisors Inc. now owns 175 shares of the asset manager’s stock valued at $146,000 after acquiring an additional 16 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of BlackRock by 2.5% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 696 shares of the asset manager’s stock valued at $581,000 after acquiring an additional 17 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its position in shares of BlackRock by 26.0% during the 1st quarter. Sunbelt Securities Inc. now owns 849 shares of the asset manager’s stock valued at $708,000 after acquiring an additional 175 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were 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 directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were 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 directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,042 shares of company stock valued at $56,857,777 over the last ninety days. Insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of BLK stock opened at $1,000.81 on Wednesday. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $1,032.00. The firm’s 50 day moving average is $921.62 and its 200-day moving average is $840.57. The firm has a market capitalization of $148.72 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 1.94 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 announced its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. BlackRock’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the business earned $10.91 earnings per share. Sell-side analysts forecast that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays lifted 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. Keefe, Bruyette & Woods boosted their price target on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. StockNews.com initiated coverage on shares of BlackRock in a research report on Sunday. They issued a “hold” rating on the stock. Argus boosted their price target on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Evercore ISI boosted their price target on shares of BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $995.31.

BlackRock Company Profile

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.