BlackRock, Inc. (NYSE:BLK) Shares Acquired by Magnus Financial Group LLC

Magnus Financial Group LLC grew its holdings in BlackRock, Inc. (NYSE:BLK) by 5.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 414 shares of the asset manager’s stock after purchasing an additional 23 shares during the quarter. Magnus Financial Group LLC’s holdings in BlackRock were worth $392,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BLK. IAG Wealth Partners LLC acquired a new stake in shares of BlackRock in the fourth quarter valued at approximately $26,000. Investment Management Corp VA ADV purchased a new position in shares of BlackRock during the fourth quarter valued at approximately $30,000. Collier Financial purchased a new position in shares of BlackRock during the fourth quarter valued at approximately $32,000. Compass Planning Associates Inc purchased a new position in shares of BlackRock during the fourth quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC purchased a new position in shares of BlackRock during the fourth quarter valued at approximately $40,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BLK. UBS Group reduced their price objective on shares of BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company upped their price objective on shares of BlackRock from $1,035.00 to $1,105.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup reduced their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Bank of America reduced their price objective on shares of BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,082.46.

BlackRock Stock Performance

Shares of BLK stock opened at $990.26 on Friday. The company’s fifty day simple moving average is $925.28 and its 200-day simple moving average is $973.54. BlackRock, Inc. has a 52 week low of $752.30 and a 52 week high of $1,084.22. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The company has a market cap of $153.42 billion, a PE ratio of 23.58, a P/E/G ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter last year, the firm posted $9.81 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock’s dividend payout ratio is presently 50.63%.

Insider Activity

In related news, Director J. Richard Kushel sold 2,000 shares of the firm’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the sale, the director now directly owns 66,034 shares of the company’s stock, valued at approximately $56,261,628.34. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.98% of the company’s stock.

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.