Main Street Financial Solutions LLC Has $289,000 Stake in BlackRock, Inc. (NYSE:BLK)

Main Street Financial Solutions LLC lessened its position in BlackRock, Inc. (NYSE:BLK) by 36.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 304 shares of the asset manager’s stock after selling 177 shares during the quarter. Main Street Financial Solutions LLC’s holdings in BlackRock were worth $289,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of BlackRock by 2.3% in the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after acquiring an additional 292,017 shares during the period. Capital Research Global Investors boosted its holdings in BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares during the period. Ameriprise Financial Inc. grew its position in BlackRock by 2.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after purchasing an additional 46,728 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of BlackRock by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after purchasing an additional 22,311 shares during the period. Finally, Pathway Financial Advisers LLC raised its position in shares of BlackRock by 89,389.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after buying an additional 1,044,962 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Price Performance

BlackRock stock opened at $1,047.01 on Friday. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $155.09 billion, a P/E ratio of 25.84, a PEG ratio of 1.85 and a beta of 1.30. The business has a 50-day moving average of $962.02 and a 200-day moving average of $866.74. BlackRock, Inc. has a 1 year low of $697.70 and a 1 year high of $1,068.34.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the business posted $10.91 earnings per share. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, equities analysts anticipate that BlackRock, Inc. will post 43.17 EPS for the current year.

Wall Street Analyst Weigh In

BLK has been the topic of several research reports. Barclays boosted their price target on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Evercore ISI raised their target price on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley lifted their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, StockNews.com assumed coverage on shares of BlackRock in a research report on Wednesday. They issued a “hold” rating for the company. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,019.62.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated 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 $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

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.