MAI Capital Management Decreases Stock Position in BlackRock, Inc. (NYSE:BLK)

MAI Capital Management lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,827 shares of the asset manager's stock after selling 872 shares during the quarter. MAI Capital Management's holdings in BlackRock were worth $18,826,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its position in shares of BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager's stock worth $3,630,127,000 after acquiring an additional 435,358 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in BlackRock by 2.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager's stock worth $1,310,762,000 after purchasing an additional 46,728 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of BlackRock by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager's stock valued at $942,640,000 after purchasing an additional 22,311 shares during the last quarter. Pathway Financial Advisers LLC grew its position in shares of BlackRock by 89,389.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager's stock valued at $993,312,000 after purchasing an additional 1,044,962 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of BlackRock by 104,468.9% in the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager's stock worth $7,526,120,000 after buying an additional 791,874 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Up 0.2 %

Shares of NYSE BLK traded up $2.60 during mid-day trading on Monday, reaching $1,049.97. 500,304 shares of the company were exchanged, compared to its average volume of 574,657. 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 $162.62 billion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 1.87 and a beta of 1.30. BlackRock, Inc. has a 1 year low of $712.11 and a 1 year high of $1,068.34. The firm has a 50-day moving average of $972.48 and a 200 day moving average of $873.69.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping analysts' consensus estimates of $10.42 by $1.04. The firm had revenue of $5.20 billion during the quarter, compared to analysts' expectations 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 prior year, the business posted $10.91 EPS. On average, research analysts expect that BlackRock, Inc. will post 43.17 earnings per share for the current year.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated Friday, August 30th. The stock was 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 in the company, valued at approximately $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BLK shares. Barclays lifted their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. StockNews.com initiated coverage on shares of BlackRock in a research report on Wednesday, November 13th. They issued a "hold" rating on the stock. The Goldman Sachs Group lifted their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Finally, Evercore ISI boosted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the stock 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 assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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.