BlackRock, Inc. (NYSE:BLK) Shares Sold by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC lowered its stake in BlackRock, Inc. (NYSE:BLK) by 6.4% during the second quarter, HoldingsChannel.com reports. The firm owned 25,205 shares of the asset manager’s stock after selling 1,730 shares during the period. BlackRock makes up about 2.4% of MainStreet Investment Advisors LLC’s holdings, making the stock its 8th biggest holding. MainStreet Investment Advisors LLC’s holdings in BlackRock were worth $19,844,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. XML Financial LLC grew its position in shares of BlackRock by 2.6% during the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after purchasing an additional 12 shares in the last quarter. Hexagon Capital Partners LLC grew its position in BlackRock by 6.1% during the second quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock worth $177,000 after buying an additional 13 shares in the last quarter. Forza Wealth Management LLC increased its stake in BlackRock by 1.3% during the 2nd quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock worth $822,000 after acquiring an additional 13 shares during the period. Rosenberg Matthew Hamilton raised its holdings in BlackRock by 4.4% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock valued at $243,000 after acquiring an additional 13 shares in the last quarter. Finally, Tortoise Investment Management LLC lifted its position in shares of BlackRock by 17.1% during the 2nd quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock valued at $70,000 after acquiring an additional 13 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 27,000 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is currently owned by company insiders.

BlackRock Stock Performance

NYSE:BLK opened at $866.92 on Friday. The stock’s 50-day moving average is $848.57 and its 200-day moving average is $811.87. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $903.46. 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 stock has a market cap of $128.82 billion, a P/E ratio of 22.03, a price-to-earnings-growth ratio of 1.97 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.28 EPS. Equities research analysts anticipate that BlackRock, Inc. will post 41.34 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be given a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. TD Cowen dropped their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Evercore ISI boosted their target price on shares of BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research report on Thursday. UBS Group reduced their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Morgan Stanley lowered their price objective on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $883.13.

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.