MAI Capital Management Has $18.83 Million Stake in BlackRock, Inc. (NYSE:BLK)

MAI Capital Management lessened its position in shares of BlackRock, Inc. (NYSE:BLK) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,827 shares of the asset manager’s stock after selling 872 shares during the period. MAI Capital Management’s holdings in BlackRock were worth $18,826,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fairscale Capital LLC acquired a new stake in BlackRock in the 2nd quarter valued at approximately $31,000. Reston Wealth Management LLC acquired a new stake in shares of BlackRock in the third quarter valued at approximately $37,000. MFA Wealth Advisors LLC lifted its position in shares of BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after purchasing an additional 20 shares in the last quarter. Addison Advisors LLC boosted its holdings in BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after purchasing an additional 22 shares during the last quarter. Finally, Olistico Wealth LLC bought a new position in BlackRock in the second quarter valued at $53,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Up 0.0 %

Shares of NYSE:BLK opened at $1,047.37 on Monday. BlackRock, Inc. has a 12-month low of $708.75 and a 12-month high of $1,068.34. The business has a 50 day moving average of $969.04 and a 200-day moving average of $871.62. 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 cap of $162.22 billion, a PE ratio of 25.85, a P/E/G ratio of 1.87 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $10.91 EPS. As a group, equities research analysts forecast that BlackRock, Inc. will post 43.17 earnings per share for the current year.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 64.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on BLK. Morgan Stanley increased their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. The Goldman Sachs Group increased their price objective on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. StockNews.com assumed coverage on shares of BlackRock in a report on Wednesday, November 13th. They set a “hold” rating on the stock. Finally, Evercore ISI increased their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,019.62.

About BlackRock

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.