MAI Capital Management Has $26.26 Million Stock Holdings in BlackRock $BLK

MAI Capital Management raised its stake in shares of BlackRock (NYSE:BLK) by 5.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,024 shares of the asset manager’s stock after buying an additional 1,348 shares during the period. MAI Capital Management’s holdings in BlackRock were worth $26,256,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Game Plan Financial Advisors LLC lifted its holdings in shares of BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 15 shares during the last quarter. Garde Capital Inc. raised its position in BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 18 shares in the last quarter. Traub Capital Management LLC acquired a new stake in BlackRock in the second quarter valued at approximately $28,000. Cheviot Value Management LLC bought a new stake in BlackRock in the first quarter worth approximately $30,000. Finally, Whipplewood Advisors LLC increased its stake in shares of BlackRock by 107.1% during the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after purchasing an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction that occurred on Monday, October 20th. The stock was 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 of the company’s stock, valued at approximately $8,394,113.20. This trade represents a 62.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.98% of the company’s stock.

BlackRock Price Performance

NYSE:BLK opened at $993.74 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The company has a fifty day moving average price of $1,119.43 and a 200 day moving average price of $1,076.59. The stock has a market cap of $154.18 billion, a P/E ratio of 25.55, a PEG ratio of 1.90 and a beta of 1.48.

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

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Friday, December 5th will be issued a $5.21 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $20.84 annualized dividend and a yield of 2.1%. BlackRock’s dividend payout ratio is 53.59%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Argus upped their price objective on shares of BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. TD Cowen raised their price objective on BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Evercore ISI increased their price target on BlackRock from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Bank of America upped their price objective on shares of BlackRock from $1,394.00 to $1,456.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, Jefferies Financial Group boosted their target price on shares of BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,302.53.

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.