Mackay Shields LLC Reduces Position in BlackRock, Inc. (NYSE:BLK)

Mackay Shields LLC cut its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 27.9% in the second quarter, HoldingsChannel reports. The firm owned 22,332 shares of the asset manager’s stock after selling 8,640 shares during the period. Mackay Shields LLC’s holdings in BlackRock were worth $19,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of BLK. FMR LLC lifted its position in BlackRock by 11.0% during the second quarter. FMR LLC now owns 3,892,865 shares of the asset manager’s stock valued at $3,406,141,000 after purchasing an additional 386,410 shares during the period. Liberty Wealth Management LLC lifted its position in BlackRock by 112,080.7% during the second quarter. Liberty Wealth Management LLC now owns 127,886 shares of the asset manager’s stock valued at $146,000 after purchasing an additional 127,772 shares during the period. Mn Services Vermogensbeheer B.V. acquired a new position in BlackRock during the second quarter valued at $82,772,000. Toronto Dominion Bank lifted its position in BlackRock by 98.8% during the second quarter. Toronto Dominion Bank now owns 192,225 shares of the asset manager’s stock valued at $87,487,000 after purchasing an additional 95,552 shares during the period. Finally, Bank of Nova Scotia lifted its position in BlackRock by 313.3% during the second quarter. Bank of Nova Scotia now owns 122,260 shares of the asset manager’s stock valued at $106,947,000 after purchasing an additional 92,682 shares during the period. Institutional investors own 78.13% of the company’s stock.

In other news, General Counsel Christopher J. Meade sold 2,106 shares of the company’s stock in a transaction that occurred on Tuesday, July 20th. The shares were sold at an average price of $877.24, for a total value of $1,847,467.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.16% of the company’s stock.

BLK has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of BlackRock from $890.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, July 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of BlackRock from $1,039.00 to $1,008.00 and set a “buy” rating for the company in a research report on Thursday. Jefferies Financial Group boosted their target price on shares of BlackRock from $1,001.00 to $1,075.00 and gave the stock a “buy” rating in a research note on Tuesday, August 31st. Citigroup boosted their target price on shares of BlackRock from $1,030.00 to $1,035.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Argus boosted their target price on shares of BlackRock from $950.00 to $975.00 and gave the stock a “buy” rating in a research note on Thursday, July 15th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, BlackRock has an average rating of “Buy” and an average target price of $952.93.

Shares of BlackRock stock traded up $16.14 during mid-day trading on Thursday, hitting $883.95. The stock had a trading volume of 15,228 shares, compared to its average volume of 583,632. The firm has a 50-day moving average of $895.01 and a two-hundred day moving average of $866.24. BlackRock, Inc. has a 12-month low of $587.90 and a 12-month high of $959.89. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market cap of $134.53 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, October 12th. The asset manager reported $10.95 earnings per share for the quarter, beating the consensus estimate of $9.81 by $1.14. BlackRock had a net margin of 30.39% and a return on equity of 16.30%. The business had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the company posted $9.22 EPS. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. Sell-side analysts expect that BlackRock, Inc. will post 38.24 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 22nd. Stockholders of record on Tuesday, September 7th were issued a $4.13 dividend. The ex-dividend date was Friday, September 3rd. This represents a $16.52 annualized dividend and a dividend yield of 1.87%. BlackRock’s dividend payout ratio is currently 48.85%.

BlackRock Company Profile

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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