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

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

Several other large investors have also recently bought and sold shares of BLK. Vanguard Group Inc. raised its stake in shares of BlackRock by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after purchasing an additional 292,017 shares in the last quarter. Capital Research Global Investors increased its holdings in BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after buying an additional 435,358 shares during the last quarter. Ameriprise Financial Inc. raised its position in BlackRock by 2.9% during the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after acquiring an additional 46,728 shares in the last quarter. Legal & General Group Plc lifted its stake in BlackRock by 1.9% in the second quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after acquiring an additional 22,311 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of BlackRock by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 685,456 shares of the asset manager’s stock valued at $539,673,000 after acquiring an additional 17,087 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLK has been the topic of a number of research analyst reports. Barclays increased their price target on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group decreased their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. StockNews.com started coverage on shares of BlackRock in a research note on Saturday. They set a “hold” rating on the stock. Keefe, Bruyette & Woods lifted their price target on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, Wells Fargo & Company upped their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $991.46.

BlackRock Price Performance

Shares of BLK 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 stock has a market cap of $149.64 billion, a PE ratio of 25.59, a PEG ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $1,016.45. The business has a 50-day simple moving average of $905.97 and a two-hundred day simple moving average of $833.68.

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

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were issued a dividend of $5.10 per share. The ex-dividend date was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Buying and Selling

In related news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This represents 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. Also, Director Mark Wiedman sold 11,061 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,527,116. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,042 shares of company stock valued at $56,857,777 over the last 90 days. 0.90% of the stock is owned by insiders.

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.