MainStreet Investment Advisors LLC Sells 602 Shares of BlackRock $BLK

MainStreet Investment Advisors LLC decreased its holdings in BlackRock (NYSE:BLK) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,950 shares of the asset manager’s stock after selling 602 shares during the period. BlackRock makes up about 2.9% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 7th biggest position. MainStreet Investment Advisors LLC’s holdings in BlackRock were worth $20,933,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Game Plan Financial Advisors LLC grew its position in BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 15 shares during the last quarter. Garde Capital Inc. boosted its stake in shares of BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 18 shares in the last quarter. Cheviot Value Management LLC bought a new stake in shares of BlackRock during the 1st quarter valued at approximately $30,000. Whipplewood Advisors LLC increased its position in BlackRock by 107.1% during the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after purchasing an additional 15 shares in the last quarter. Finally, Creekmur Asset Management LLC lifted its stake in BlackRock by 87.5% in the 2nd quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 14 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Rachel Lord sold 12,000 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the transaction, the director directly owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is owned by insiders.

BlackRock Stock Performance

Shares of BLK stock opened at $1,024.20 on Tuesday. The stock has a market capitalization of $158.91 billion, a PE ratio of 26.34, a PEG ratio of 1.90 and a beta of 1.48. The business’s 50 day simple moving average is $1,125.77 and its 200 day simple moving average is $1,076.97. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a one year low of $773.74 and a one year high of $1,219.94.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing the consensus estimate of $11.78 by ($0.23). The firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.22 billion. BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The company’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter last year, the company earned $11.46 earnings per share. As a group, research analysts forecast that BlackRock will post 47.41 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BLK shares. Evercore ISI upped their price target on shares of BlackRock from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on BlackRock from $1,312.00 to $1,305.00 and set a “buy” rating on the stock in a research report on Friday. Barclays increased their target price on BlackRock from $1,310.00 to $1,360.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. TD Cowen boosted their price target on BlackRock from $1,301.00 to $1,407.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, Argus raised their price objective on shares of BlackRock from $1,165.00 to $1,330.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,302.53.

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.