McGuire Investment Group LLC Increases Stock Holdings in BlackRock $BLK

McGuire Investment Group LLC lifted its stake in shares of BlackRock (NYSE:BLK) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,019 shares of the asset manager’s stock after buying an additional 152 shares during the period. BlackRock comprises about 1.5% of McGuire Investment Group LLC’s holdings, making the stock its 26th largest position. McGuire Investment Group LLC’s holdings in BlackRock were worth $11,562,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Securian Asset Management Inc. purchased a new position in shares of BlackRock during the first quarter valued at approximately $7,331,000. Prudent Man Advisors LLC bought a new stake in BlackRock during the first quarter worth $2,018,000. Allianz SE lifted its holdings in BlackRock by 2.6% during the first quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock worth $10,435,000 after acquiring an additional 277 shares during the period. Arizona State Retirement System bought a new stake in BlackRock during the first quarter worth $40,868,000. Finally, Community Financial Services Group LLC lifted its holdings in BlackRock by 17.2% during the first quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager’s stock worth $5,397,000 after acquiring an additional 836 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Telsey Advisory Group reiterated an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. Wells Fargo & Company dropped their price target on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a report on Wednesday, July 16th. The Goldman Sachs Group reiterated a “buy” rating and set a $1,115.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Argus reiterated a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. Finally, Morgan Stanley lowered their target price on BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $1,171.93.

BlackRock Stock Performance

NYSE:BLK opened at $1,142.33 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,183.50. The firm has a market cap of $176.89 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 2.23 and a beta of 1.45. The business’s fifty day moving average is $1,128.09 and its 200 day moving average is $1,024.88.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the company posted $10.36 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. Research analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

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

Insider Buying and Selling

In other BlackRock news, Director Fabrizio Freda sold 4,434 shares of the company’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the transaction, the director directly owned 3,506 shares in the company, valued at $3,936,571.86. This represents a 55.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laurence Fink sold 12,054 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the completion of the transaction, the chief executive officer owned 251,697 shares in the company, valued at $283,267,354.71. This represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by company insiders.

BlackRock Company 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.