Arbor Trust Wealth Advisors LLC Cuts Position in BlackRock $BLK

Arbor Trust Wealth Advisors LLC reduced its stake in shares of BlackRock (NYSE:BLK) by 9.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 457 shares of the asset manager’s stock after selling 50 shares during the period. Arbor Trust Wealth Advisors LLC’s holdings in BlackRock were worth $480,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Welch Group LLC boosted its holdings in BlackRock by 1.2% during the second quarter. Welch Group LLC now owns 760 shares of the asset manager’s stock worth $797,000 after buying an additional 9 shares in the last quarter. Stanley Laman Group Ltd. increased its holdings in BlackRock by 2.7% in the second quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock valued at $357,000 after buying an additional 9 shares in the last quarter. CNB Bank increased its holdings in BlackRock by 9.6% in the second quarter. CNB Bank now owns 103 shares of the asset manager’s stock valued at $108,000 after buying an additional 9 shares in the last quarter. Magellan Asset Management Ltd lifted its position in shares of BlackRock by 14.3% during the 2nd quarter. Magellan Asset Management Ltd now owns 72 shares of the asset manager’s stock valued at $76,000 after acquiring an additional 9 shares during the period. Finally, McLean Asset Management Corp boosted its stake in shares of BlackRock by 3.9% during the 2nd quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock worth $285,000 after acquiring an additional 10 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Trading Up 1.1%

BlackRock stock opened at $1,081.66 on Friday. The stock has a 50-day moving average price of $1,130.62 and a 200 day moving average price of $1,069.28. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94. The stock has a market cap of $167.50 billion, a PE ratio of 27.81, a P/E/G ratio of 1.90 and a beta of 1.48. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BLK. Loop Capital set a $1,255.00 price target on BlackRock in a report on Tuesday, October 21st. Citigroup boosted their target price on BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Deutsche Bank Aktiengesellschaft set a $1,320.00 target price on BlackRock and gave the company a “buy” rating in a report on Wednesday, October 15th. Wells Fargo & Company cut their price target on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a research note on Wednesday, July 16th. Finally, BNP Paribas Exane boosted their price objective on shares of BlackRock from $1,160.00 to $1,265.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Seventeen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,303.41.

Insider Activity

In related news, Director Rachel Lord sold 12,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.98% of the company’s stock.

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.