Midwest Professional Planners LTD. Acquires 65 Shares of BlackRock $BLK

Midwest Professional Planners LTD. increased its holdings in shares of BlackRock (NYSE:BLK) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,532 shares of the asset manager’s stock after purchasing an additional 65 shares during the period. Midwest Professional Planners LTD.’s holdings in BlackRock were worth $2,656,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BLK. Symphony Financial Ltd. Co. acquired a new position in shares of BlackRock during the 2nd quarter valued at $17,978,000. Western Wealth Management LLC raised its holdings in shares of BlackRock by 12.8% during the second quarter. Western Wealth Management LLC now owns 2,585 shares of the asset manager’s stock valued at $2,713,000 after purchasing an additional 294 shares during the period. Summitry LLC boosted its position in shares of BlackRock by 2.7% during the 2nd quarter. Summitry LLC now owns 541 shares of the asset manager’s stock worth $567,000 after purchasing an additional 14 shares in the last quarter. MTM Investment Management LLC increased its position in BlackRock by 2.4% in the 2nd quarter. MTM Investment Management LLC now owns 805 shares of the asset manager’s stock valued at $845,000 after buying an additional 19 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in BlackRock by 6.0% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 159,231 shares of the asset manager’s stock worth $167,074,000 after buying an additional 9,077 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at BlackRock

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on BLK. JPMorgan Chase & Co. boosted their price objective on BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Bank of America lifted their price target on shares of BlackRock from $1,394.00 to $1,456.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. TD Cowen upped their price objective on shares of BlackRock from $1,301.00 to $1,407.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Zacks Research lowered shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Finally, Morgan Stanley lifted their price objective on shares of BlackRock from $1,362.00 to $1,486.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Seventeen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,302.53.

BlackRock Price Performance

BLK opened at $1,057.41 on Monday. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The company has a market capitalization of $164.06 billion, a price-to-earnings ratio of 27.19, a P/E/G ratio of 1.90 and a beta of 1.48. The firm’s fifty day moving average price is $1,127.37 and its two-hundred day moving average price is $1,076.22.

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

BlackRock 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.