Advisors Asset Management Inc. Has $12.96 Million Stock Holdings in BlackRock $BLK

Advisors Asset Management Inc. decreased its stake in BlackRock (NYSE:BLK) by 8.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,351 shares of the asset manager’s stock after selling 1,176 shares during the quarter. Advisors Asset Management Inc.’s holdings in BlackRock were worth $12,959,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Game Plan Financial Advisors LLC raised its holdings in shares of BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 15 shares during the period. Garde Capital Inc. grew its position in BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after purchasing an additional 18 shares in the last quarter. Traub Capital Management LLC acquired a new stake in BlackRock during the 2nd quarter valued at $28,000. Cheviot Value Management LLC purchased a new stake in shares of BlackRock in the first quarter valued at $30,000. Finally, Whipplewood Advisors LLC boosted its position in shares of BlackRock by 107.1% in the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after buying an additional 15 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BLK opened at $1,018.11 on Tuesday. The company has a market capitalization of $157.96 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The company’s fifty day moving average price is $1,115.30 and its 200 day moving average price is $1,080.10.

BlackRock (NYSE:BLK) 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 net margin of 26.64% and a return on equity of 15.36%. The business had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.22 billion. During the same period in the prior year, the business posted $11.46 earnings per share. The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. As a group, analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Friday, December 5th will be issued a dividend of $5.21 per share. The ex-dividend date is Friday, December 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.0%. BlackRock’s payout ratio is 53.59%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. BMO Capital Markets raised their price objective on BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a report on Thursday, October 2nd. UBS Group reaffirmed a “hold” rating on shares of BlackRock in a research report on Tuesday, October 21st. Loop Capital set a $1,255.00 target price on shares of BlackRock in a research note on Tuesday, October 21st. Finally, Bank of America upped their price target on shares of BlackRock from $1,394.00 to $1,456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,302.53.

Insider Buying and Selling at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the sale, the director owned 7,205 shares in the company, valued at approximately $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate 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.