McGuire Investment Group LLC Has $6.50 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

McGuire Investment Group LLC cut its position in BlackRock, Inc. (NYSE:BLKGet Rating) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,673 shares of the asset manager’s stock after selling 62 shares during the period. BlackRock comprises about 1.4% of McGuire Investment Group LLC’s portfolio, making the stock its 29th largest position. McGuire Investment Group LLC’s holdings in BlackRock were worth $6,500,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Nvwm LLC increased its position in shares of BlackRock by 26.4% during the first quarter. Nvwm LLC now owns 115 shares of the asset manager’s stock worth $88,000 after acquiring an additional 24 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of BlackRock by 6.8% during the second quarter. State of Alaska Department of Revenue now owns 22,542 shares of the asset manager’s stock worth $13,728,000 after acquiring an additional 1,440 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of BlackRock by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 384,792 shares of the asset manager’s stock worth $294,074,000 after acquiring an additional 5,783 shares in the last quarter. Wealth Alliance increased its position in shares of BlackRock by 2.7% during the first quarter. Wealth Alliance now owns 768 shares of the asset manager’s stock worth $587,000 after acquiring an additional 20 shares in the last quarter. Finally, SevenBridge Financial Group LLC bought a new stake in shares of BlackRock during the second quarter worth $236,000. 76.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of BlackRock from $825.00 to $718.00 in a research report on Monday, July 11th. Deutsche Bank Aktiengesellschaft raised their target price on shares of BlackRock from $720.00 to $860.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Morgan Stanley decreased their target price on shares of BlackRock from $801.00 to $773.00 and set an “overweight” rating for the company in a research report on Wednesday, July 27th. Keefe, Bruyette & Woods decreased their target price on shares of BlackRock from $719.00 to $675.00 and set a “market perform” rating for the company in a research report on Tuesday, June 28th. Finally, The Goldman Sachs Group decreased their target price on shares of BlackRock from $830.00 to $710.00 and set a “buy” rating for the company in a research report on Wednesday, June 29th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $804.46.

BlackRock Stock Performance

Shares of NYSE BLK traded down $9.11 during mid-day trading on Friday, reaching $591.39. 61,951 shares of the company were exchanged, compared to its average volume of 714,101. BlackRock, Inc. has a twelve month low of $575.60 and a twelve month high of $973.16. The company has a quick ratio of 3.64, a current ratio of 3.64 and a debt-to-equity ratio of 0.37. The company’s 50-day simple moving average is $672.16 and its 200-day simple moving average is $665.81. The stock has a market capitalization of $89.16 billion, a P/E ratio of 15.47, a P/E/G ratio of 3.19 and a beta of 1.23.

BlackRock (NYSE:BLKGet Rating) last issued its quarterly earnings data on Friday, July 15th. The asset manager reported $7.36 earnings per share for the quarter, missing the consensus estimate of $7.94 by ($0.58). BlackRock had a return on equity of 15.74% and a net margin of 30.12%. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same quarter last year, the firm earned $10.03 EPS. BlackRock’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, research analysts predict that BlackRock, Inc. will post 33.92 earnings per share for the current year.

BlackRock Increases Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, September 22nd. Shareholders of record on Wednesday, September 7th were paid a $4.88 dividend. This is a boost from BlackRock’s previous dividend of $2.29. The ex-dividend date of this dividend was Tuesday, September 6th. BlackRock’s payout ratio is 51.46%.

Insiders Place Their Bets

In other BlackRock news, Director Mark Mccombe sold 1,360 shares of BlackRock stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $739.79, for a total value of $1,006,114.40. Following the completion of the sale, the director now owns 21,106 shares in the company, valued at approximately $15,614,007.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other BlackRock news, CEO Laurence Fink sold 44,500 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $684.61, for a total value of $30,465,145.00. Following the transaction, the chief executive officer now directly owns 563,771 shares of the company’s stock, valued at approximately $385,963,264.31. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Mccombe sold 1,360 shares of BlackRock stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $739.79, for a total transaction of $1,006,114.40. Following the sale, the director now directly owns 21,106 shares in the company, valued at $15,614,007.74. The disclosure for this sale can be found here. Insiders sold 83,448 shares of company stock worth $55,259,953 in the last quarter. 1.06% of the stock is currently owned by corporate insiders.

BlackRock Profile

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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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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