MainStreet Investment Advisors LLC raised its position in BlackRock, Inc. (NYSE:BLK) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,883 shares of the asset manager’s stock after purchasing an additional 1,015 shares during the period. BlackRock comprises about 2.0% of MainStreet Investment Advisors LLC’s investment portfolio, making the stock its 9th largest position. MainStreet Investment Advisors LLC’s holdings in BlackRock were worth $14,963,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC lifted its holdings in BlackRock by 13.8% in the 1st quarter. EP Wealth Advisors LLC now owns 37,649 shares of the asset manager’s stock valued at $16,090,000 after purchasing an additional 4,555 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings in shares of BlackRock by 19.6% during the 1st quarter. Xact Kapitalforvaltning AB now owns 28,867 shares of the asset manager’s stock worth $12,337,000 after acquiring an additional 4,729 shares during the period. Smithbridge Asset Management Inc. DE lifted its holdings in shares of BlackRock by 13.3% during the 2nd quarter. Smithbridge Asset Management Inc. DE now owns 850 shares of the asset manager’s stock worth $399,000 after acquiring an additional 100 shares during the period. National Asset Management Inc. lifted its holdings in shares of BlackRock by 10.0% during the 1st quarter. National Asset Management Inc. now owns 1,578 shares of the asset manager’s stock worth $676,000 after acquiring an additional 144 shares during the period. Finally, Rehmann Capital Advisory Group lifted its holdings in shares of BlackRock by 19.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 2,568 shares of the asset manager’s stock worth $1,098,000 after acquiring an additional 410 shares during the period. Institutional investors own 81.58% of the company’s stock.
BLK traded down $1.16 on Monday, reaching $477.01. 28 shares of the company’s stock were exchanged, compared to its average volume of 455,007. The company’s 50 day simple moving average is $465.86. The company has a market capitalization of $73.89 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 1.77 and a beta of 1.52. BlackRock, Inc. has a twelve month low of $360.79 and a twelve month high of $509.87. The company has a current ratio of 3.49, a quick ratio of 3.49 and a debt-to-equity ratio of 0.83.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Thursday, September 5th will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Wednesday, September 4th. BlackRock’s dividend payout ratio (DPR) is presently 49.02%.
In related news, Chairman Laurence Fink sold 31,250 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $481.79, for a total transaction of $15,055,937.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.42% of the stock is currently owned by corporate insiders.
Several brokerages have recently weighed in on BLK. JPMorgan Chase & Co. cut their price objective on shares of Schlumberger from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Wells Fargo & Co reiterated a “buy” rating on shares of Morgan Stanley in a report on Wednesday, April 17th. Zacks Investment Research lowered shares of GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 2nd. Citigroup increased their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Finally, Barclays lowered shares of Barrick Gold from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $15.00 to $18.00 in a report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $499.03.
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.
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