Meeder Advisory Services Inc. Grows Position in BlackRock, Inc. (NYSE:BLK)

Meeder Advisory Services Inc. raised its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,345 shares of the asset manager’s stock after buying an additional 46 shares during the quarter. Meeder Advisory Services Inc.’s holdings in BlackRock were worth $3,176,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BLK. Ontario Teachers Pension Plan Board boosted its stake in BlackRock by 34.8% during the first 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 period. O Shaughnessy Asset Management LLC boosted its stake in BlackRock by 39.9% during the first 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 period. Clearbridge Investments LLC boosted its stake in BlackRock by 0.3% during the first 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 period. Bessemer Group Inc. boosted its stake in BlackRock by 19.1% during the first 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 period. Finally, Lake Street Advisors Group LLC boosted its stake in BlackRock by 34.4% during the first 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 period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This trade represents a 64.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on BLK. TD Cowen increased their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Morgan Stanley increased their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Evercore ISI increased their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, StockNews.com started coverage on shares of BlackRock in a research report on Wednesday, November 13th. They set a “hold” rating on the stock. Three investment 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, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Stock Performance

Shares of BLK opened at $1,042.99 on Monday. The business’s fifty 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 $712.11 and a 12-month high of $1,068.34. The stock has a market capitalization of $161.54 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 1.87 and a beta of 1.30. 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 issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating 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 return on equity of 15.52% and a net margin of 31.37%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the company earned $10.91 earnings per share. Equities research analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current year.

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.