BlackRock $BLK Shares Sold by Magnus Financial Group LLC

Magnus Financial Group LLC trimmed its position in BlackRock (NYSE:BLK) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 404 shares of the asset manager’s stock after selling 10 shares during the period. Magnus Financial Group LLC’s holdings in BlackRock were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McLean Asset Management Corp boosted its position in BlackRock by 3.9% in the second quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock valued at $285,000 after buying an additional 10 shares during the last quarter. Trust Co. of Oklahoma lifted its stake in BlackRock by 0.5% during the 2nd quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager’s stock valued at $2,123,000 after acquiring an additional 10 shares during the period. Detalus Advisors LLC boosted its holdings in shares of BlackRock by 2.8% in the 1st quarter. Detalus Advisors LLC now owns 409 shares of the asset manager’s stock valued at $387,000 after acquiring an additional 11 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its holdings in shares of BlackRock by 20.4% during the first quarter. Blue Bell Private Wealth Management LLC now owns 65 shares of the asset manager’s stock worth $62,000 after purchasing an additional 11 shares during the last quarter. Finally, Focus Financial Network Inc. raised its holdings in shares of BlackRock by 1.8% during the second quarter. Focus Financial Network Inc. now owns 619 shares of the asset manager’s stock worth $650,000 after purchasing an additional 11 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Transactions at BlackRock

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

BlackRock Trading Up 1.6%

Shares of NYSE:BLK opened at $1,146.33 on Friday. The business’s 50 day moving average price is $1,123.70 and its 200-day moving average price is $1,018.07. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,171.89. The firm has a market capitalization of $177.51 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 2.16 and a beta of 1.45. 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 (NYSE:BLK) last posted its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $10.36 earnings per share. On average, equities research analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were issued a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, September 5th. BlackRock’s payout ratio is presently 50.39%.

Analyst Upgrades and Downgrades

BLK has been the topic of several recent research reports. Keefe, Bruyette & Woods lowered their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating on the stock in a report on Wednesday, July 16th. Bank of America raised their target price on BlackRock from $1,214.00 to $1,224.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Jefferies Financial Group boosted their price target on BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Zacks Research lowered BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Finally, UBS Group reaffirmed a “neutral” rating and set a $980.00 target price on shares of BlackRock in a report on Tuesday, July 8th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,154.07.

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.