Mutual of America Capital Management LLC Reduces Stake in BlackRock, Inc. (NYSE:BLK)

Mutual of America Capital Management LLC cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,616 shares of the asset manager’s stock after selling 718 shares during the period. Mutual of America Capital Management LLC’s holdings in BlackRock were worth $13,869,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. XML Financial LLC boosted its position in shares of BlackRock by 2.6% during the second quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock valued at $372,000 after buying an additional 12 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of BlackRock by 6.1% during the second quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock valued at $177,000 after buying an additional 13 shares during the period. Forza Wealth Management LLC boosted its position in shares of BlackRock by 1.3% during the second quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock valued at $822,000 after buying an additional 13 shares during the period. Rosenberg Matthew Hamilton boosted its holdings in shares of BlackRock by 4.4% in the second quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock valued at $243,000 after purchasing an additional 13 shares during the period. Finally, Tortoise Investment Management LLC boosted its holdings in shares of BlackRock by 17.1% in the second quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock valued at $70,000 after purchasing an additional 13 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BLK has been the subject of a number of research reports. UBS Group lowered their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Argus increased their price objective on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft increased their price objective on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Barclays raised their target price on BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Finally, Keefe, Bruyette & Woods raised their target price on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $902.13.

BlackRock Price Performance

NYSE:BLK opened at $904.83 on Wednesday. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $908.88. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $134.46 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 1.92 and a beta of 1.30. The stock’s 50-day moving average price is $862.13 and its 200-day moving average price is $815.73.

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

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be issued a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s payout ratio is 51.84%.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,407,041.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,042 shares of company stock worth $79,387,117. Insiders own 0.90% 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.