BlackRock (NYSE:BLK) is MainStreet Investment Advisors LLC's 7th Largest Position

MainStreet Investment Advisors LLC lessened its stake in BlackRock (NYSE:BLK - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,552 shares of the asset manager's stock after selling 796 shares during the quarter. BlackRock makes up about 2.8% of MainStreet Investment Advisors LLC's portfolio, making the stock its 7th biggest holding. MainStreet Investment Advisors LLC's holdings in BlackRock were worth $19,452,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Rogco LP acquired a new stake in BlackRock during the 1st quarter worth $2,172,000. First Interstate Bank acquired a new position in shares of BlackRock during the 1st quarter worth approximately $602,000. Topsail Wealth Management LLC boosted its holdings in shares of BlackRock by 11.8% during the 1st quarter. Topsail Wealth Management LLC now owns 485 shares of the asset manager's stock worth $459,000 after purchasing an additional 51 shares during the last quarter. LBP AM SA purchased a new stake in shares of BlackRock in the first quarter valued at approximately $3,743,000. Finally, Axxcess Wealth Management LLC increased its holdings in shares of BlackRock by 5.1% in the first quarter. Axxcess Wealth Management LLC now owns 2,723 shares of the asset manager's stock valued at $2,577,000 after purchasing an additional 131 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

NYSE:BLK traded up $14.95 during mid-day trading on Thursday, reaching $1,103.70. 467,479 shares of the stock were exchanged, compared to its average volume of 694,080. The stock has a market capitalization of $171.00 billion, a P/E ratio of 26.81, a P/E/G ratio of 3.25 and a beta of 1.41. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,107.19. The company has a 50 day simple moving average of $989.46 and a 200-day simple moving average of $970.84. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $9.81 earnings per share. Analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were paid a $5.21 dividend. The ex-dividend date was Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.89%. BlackRock's dividend payout ratio (DPR) is currently 50.63%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. TD Cowen cut their target price on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company reissued an "overweight" rating on shares of BlackRock in a research note on Tuesday. The Goldman Sachs Group restated a "buy" rating and set a $1,115.00 price target on shares of BlackRock in a report on Tuesday. Bank of America cut their target price on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Finally, Morgan Stanley reissued an "overweight" rating and issued a $1,164.00 price target on shares of BlackRock in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,132.29.

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the transaction, the director directly owned 66,034 shares in the company, valued at $60,256,025. This trade represents a 13.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.98% of the company's stock.

BlackRock 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.