Mill Creek Capital Advisors LLC Trims Holdings in BlackRock, Inc. (NYSE:BLK)

Mill Creek Capital Advisors LLC lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 3.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 572 shares of the asset manager’s stock after selling 21 shares during the period. Mill Creek Capital Advisors LLC’s holdings in BlackRock were worth $543,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Ontario Teachers Pension Plan Board grew its stake in shares of BlackRock by 34.8% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 1,844 shares of the asset manager’s stock worth $1,537,000 after buying an additional 476 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of BlackRock by 39.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,494 shares of the asset manager’s stock worth $13,751,000 after buying an additional 4,700 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of BlackRock by 0.3% in the 1st quarter. Clearbridge Investments LLC now owns 64,066 shares of the asset manager’s stock worth $53,412,000 after buying an additional 191 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of BlackRock by 19.1% in the 1st quarter. Bessemer Group Inc. now owns 2,677 shares of the asset manager’s stock worth $2,232,000 after buying an additional 429 shares during the last quarter. Finally, Lake Street Advisors Group LLC grew its stake in shares of BlackRock by 34.4% in the 1st quarter. Lake Street Advisors Group LLC now owns 1,418 shares of the asset manager’s stock worth $1,182,000 after buying an additional 363 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Up 0.0 %

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

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company’s revenue was up 14.9% on a year-over-year basis. During the same period last year, the firm earned $10.91 EPS. Sell-side analysts expect that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on BLK. Evercore ISI upped their price target on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays upped their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group upped their price objective on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. StockNews.com initiated coverage on BlackRock in a report on Wednesday, November 13th. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,019.62.

Insider Activity

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on 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 sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.90% of the company’s stock.

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.