Magnus Financial Group LLC Acquires 37 Shares of BlackRock, Inc. (NYSE:BLK)

Magnus Financial Group LLC increased its stake in BlackRock, Inc. (NYSE:BLK) by 11.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 358 shares of the asset manager’s stock after acquiring an additional 37 shares during the quarter. Magnus Financial Group LLC’s holdings in BlackRock were worth $339,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Redmont Wealth Advisors LLC bought a new stake in BlackRock in the first quarter valued at $27,000. Fairscale Capital LLC bought a new stake in BlackRock in the 2nd quarter valued at about $31,000. Chilton Capital Management LLC acquired a new position in BlackRock during the 1st quarter worth approximately $38,000. City Holding Co. bought a new position in BlackRock in the third quarter worth approximately $55,000. Finally, Olistico Wealth LLC acquired a new stake in BlackRock in the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BLK. Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Evercore ISI raised their price objective on shares of BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a research note on Monday. The Goldman Sachs Group boosted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Barclays upped their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday. Finally, JPMorgan Chase & Co. lifted their price target on BlackRock from $774.00 to $864.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $991.46.

Insider Activity

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the sale, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,042 shares of company stock valued at $56,857,777 in the last three months. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

BLK stock opened at $1,007.00 on Wednesday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a market cap of $149.64 billion, a PE ratio of 25.59, a P/E/G ratio of 1.94 and a beta of 1.30. The business has a 50 day moving average of $905.97 and a 200-day moving average of $833.68. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $1,016.45.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.91 EPS. As a group, sell-side analysts expect that BlackRock, Inc. will post 41.73 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were given a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s dividend payout ratio is 51.84%.

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.