Magnus Financial Group LLC Purchases 33 Shares of BlackRock, Inc. (NYSE:BLK)

Magnus Financial Group LLC raised its position in BlackRock, Inc. (NYSE:BLK) by 9.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 391 shares of the asset manager’s stock after buying an additional 33 shares during the quarter. Magnus Financial Group LLC’s holdings in BlackRock were worth $401,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. AE Wealth Management LLC raised its position in shares of BlackRock by 19.9% in the second quarter. AE Wealth Management LLC now owns 1,162 shares of the asset manager’s stock valued at $915,000 after purchasing an additional 193 shares during the period. Frank Rimerman Advisors LLC grew its stake in BlackRock by 6,300.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 576 shares of the asset manager’s stock valued at $453,000 after buying an additional 567 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of BlackRock by 5.2% during the second quarter. EverSource Wealth Advisors LLC now owns 482 shares of the asset manager’s stock worth $379,000 after acquiring an additional 24 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of BlackRock by 60.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,527 shares of the asset manager’s stock worth $22,460,000 after acquiring an additional 10,706 shares in the last quarter. Finally, Sfmg LLC grew its position in shares of BlackRock by 2.1% in the second quarter. Sfmg LLC now owns 4,964 shares of the asset manager’s stock valued at $3,908,000 after purchasing an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 0.5 %

BLK opened at $1,006.61 on Thursday. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $1,025.85 and its 200 day simple moving average is $951.47. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,082.45. The stock has a market cap of $155.90 billion, a PE ratio of 23.97, a P/E/G ratio of 1.82 and a beta of 1.28.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. The company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. BlackRock’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period last year, the firm posted $9.66 EPS. As a group, research analysts expect that BlackRock, Inc. will post 47.43 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were paid a $5.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. BlackRock’s dividend payout ratio (DPR) is 48.57%.

Insider Buying and Selling

In related news, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the transaction, the chief operating officer now directly owns 41,916 shares in the company, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods dropped their price objective on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Evercore ISI raised their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. UBS Group upped their target price on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a report on Tuesday. Morgan Stanley raised their price target on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,120.67.

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.