MainStreet Investment Advisors LLC Sells 1,730 Shares of BlackRock, Inc. (NYSE:BLK)

MainStreet Investment Advisors LLC cut its holdings in BlackRock, Inc. (NYSE:BLK) by 6.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,205 shares of the asset manager’s stock after selling 1,730 shares during the quarter. BlackRock comprises approximately 2.4% of MainStreet Investment Advisors LLC’s holdings, making the stock its 8th largest position. MainStreet Investment Advisors LLC’s holdings in BlackRock were worth $19,844,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BLK. Carolinas Wealth Consulting LLC raised its stake in shares of BlackRock by 25.0% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after acquiring an additional 40 shares in the last quarter. Zhang Financial LLC raised its position in shares of BlackRock by 24.0% in the first quarter. Zhang Financial LLC now owns 883 shares of the asset manager’s stock valued at $736,000 after purchasing an additional 171 shares during the period. California State Teachers Retirement System lifted its stake in shares of BlackRock by 0.7% in the fourth quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock worth $192,997,000 after buying an additional 1,647 shares during the last quarter. Farrow Financial Inc. bought a new stake in shares of BlackRock during the 4th quarter worth $2,228,000. Finally, Axxcess Wealth Management LLC grew its stake in BlackRock by 35.8% in the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after buying an additional 1,248 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BLK has been the subject of a number of recent analyst reports. Citigroup upped their price target on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley decreased their target price on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Keefe, Bruyette & Woods upped their price target on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Barclays initiated coverage on shares of BlackRock in a research note on Tuesday, August 27th. They set an “overweight” rating and a $985.00 target price for the company. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $883.13.

BlackRock Stock Down 1.1 %

NYSE BLK opened at $866.92 on Friday. 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’s 50 day moving average is $848.57 and its two-hundred day moving average is $811.87. The company has a market capitalization of $128.82 billion, a price-to-earnings ratio of 22.03, a PEG 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 the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the firm earned $9.28 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts forecast that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.35%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insiders Place Their Bets

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction on 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 transaction, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is currently owned by corporate insiders.

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.