Mutual of America Capital Management LLC Sells 231 Shares of BlackRock $BLK

Key Points

• Mutual of America Capital Management LLC reduced its holdings in BlackRock by 1.4%, selling 231 shares and now owning a total of 16,701 shares valued at approximately $17.5 million.
• BlackRock's stock performance showed an earnings miss for the latest quarter, reporting $11.55 EPS compared to the consensus estimate of $11.78, but revenue was up 25.2% year-over-year to $6.51 billion.
• The company recently declared a dividend of $5.21 per share, with an annualized dividend of $20.84, yielding 1.8% and reflecting a payout ratio of 53.59%.

Mutual of America Capital Management LLC trimmed its holdings in BlackRock (NYSE:BLK - Free Report) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,701 shares of the asset manager's stock after selling 231 shares during the quarter. Mutual of America Capital Management LLC's holdings in BlackRock were worth $17,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of BLK. Quotient Wealth Partners LLC raised its holdings in shares of BlackRock by 8.5% during the second quarter. Quotient Wealth Partners LLC now owns 731 shares of the asset manager's stock valued at $767,000 after purchasing an additional 57 shares during the period. Stanley Laman Group Ltd. raised its stake in BlackRock by 2.7% during the 2nd quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager's stock worth $357,000 after buying an additional 9 shares during the period. Huntleigh Advisors Inc. boosted its holdings in BlackRock by 1.3% in the second quarter. Huntleigh Advisors Inc. now owns 5,901 shares of the asset manager's stock worth $6,191,000 after acquiring an additional 73 shares in the last quarter. Kanawha Capital Management LLC grew its stake in BlackRock by 8.0% in the second quarter. Kanawha Capital Management LLC now owns 6,039 shares of the asset manager's stock valued at $6,336,000 after acquiring an additional 448 shares during the period. Finally, Chevy Chase Trust Holdings LLC increased its holdings in shares of BlackRock by 0.7% during the second quarter. Chevy Chase Trust Holdings LLC now owns 81,492 shares of the asset manager's stock valued at $85,505,000 after acquiring an additional 555 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

Shares of BLK stock opened at $1,161.63 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The firm has a market cap of $179.88 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 2.01 and a beta of 1.45. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94. The firm's 50-day simple moving average is $1,140.85 and its two-hundred day simple moving average is $1,042.82.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The company had revenue of $6.51 billion for the quarter, compared to analysts' expectations of $6.22 billion. During the same quarter in the previous year, the business earned $11.46 EPS. The company's revenue for the quarter was up 25.2% on a year-over-year basis. As a group, equities analysts forecast that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock's dividend payout ratio is currently 53.59%.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares of the company's stock, valued at approximately $68,763,964.50. This trade represents a 21.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rachel Lord sold 18,036 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the sale, the director directly owned 19,205 shares in the company, valued at approximately $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock worth $74,694,573 over the last 90 days. 1.98% of the stock is owned by insiders.

Analysts Set New Price Targets

BLK has been the topic of a number of recent research reports. Bank of America increased their target price on BlackRock from $1,394.00 to $1,456.00 and gave the stock a "buy" rating in a report on Wednesday. Zacks Research lowered shares of BlackRock from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. BNP Paribas Exane upped their target price on shares of BlackRock from $1,160.00 to $1,265.00 and gave the stock an "outperform" rating in a report on Thursday, October 9th. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $1,093.00 to $1,242.00 and gave the company a "neutral" rating in a research report on Thursday, October 2nd. Finally, TD Cowen raised their price objective on BlackRock from $1,301.00 to $1,407.00 and gave the company a "buy" rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,300.81.

BlackRock Company 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.

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