Mutual of America Capital Management LLC Invests $16.03 Million in BlackRock (NYSE:BLK)

Mutual of America Capital Management LLC bought a new position in shares of BlackRock (NYSE:BLK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 16,932 shares of the asset manager's stock, valued at approximately $16,026,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its position in BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock worth $1,615,000 after buying an additional 296 shares during the period. Shelton Capital Management increased its position in BlackRock by 10.6% during the fourth quarter. Shelton Capital Management now owns 886 shares of the asset manager's stock worth $908,000 after buying an additional 85 shares during the period. Bank of Nova Scotia increased its position in BlackRock by 272.0% during the fourth quarter. Bank of Nova Scotia now owns 73,237 shares of the asset manager's stock worth $75,076,000 after buying an additional 53,547 shares during the period. Advisory Services Network LLC increased its position in BlackRock by 3.9% during the fourth quarter. Advisory Services Network LLC now owns 3,687 shares of the asset manager's stock worth $3,780,000 after buying an additional 140 shares during the period. Finally, Azimuth Capital Investment Management LLC increased its position in BlackRock by 0.9% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 32,748 shares of the asset manager's stock worth $33,570,000 after buying an additional 280 shares during the period. Institutional investors and hedge funds own 80.69% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BLK shares. The Goldman Sachs Group reissued a "buy" rating and issued a $1,115.00 target price on shares of BlackRock in a report on Tuesday, July 8th. Citigroup dropped their target price on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Keefe, Bruyette & Woods dropped their target price on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a report on Wednesday, July 16th. Jefferies Financial Group boosted their target price on BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Finally, Wells Fargo & Company dropped their target price on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a report on Wednesday, July 16th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,151.21.

BlackRock Stock Up 1.0%

Shares of NYSE:BLK opened at $1,120.47 on Thursday. 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 has a 52-week low of $773.74 and a 52-week high of $1,130.66. The stock's fifty day simple moving average is $1,049.25 and its 200-day simple moving average is $983.96. The company has a market capitalization of $173.59 billion, a P/E ratio of 27.09, a P/E/G ratio of 2.23 and a beta of 1.42.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the business posted $10.36 earnings per share. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities research analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be given a dividend of $5.21 per share. The ex-dividend date is Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.9%. BlackRock's dividend payout ratio is 50.39%.

Insiders Place Their Bets

In related news, Director Rachel Lord sold 18,036 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the transaction, the director directly owned 19,205 shares in the company, valued at approximately $21,617,148. This represents a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 14,828 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the sale, the chief executive officer owned 263,751 shares of the company's stock, valued at $296,002,472.28. This represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by corporate insiders.

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.

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