Northern Financial Advisors Inc Has $834,000 Stake in BlackRock $BLK

Northern Financial Advisors Inc decreased its stake in BlackRock (NYSE:BLK) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 795 shares of the asset manager’s stock after selling 10 shares during the quarter. Northern Financial Advisors Inc’s holdings in BlackRock were worth $834,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. McLean Asset Management Corp grew its stake in BlackRock by 3.9% in the second quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 10 shares in the last quarter. Trust Co. of Oklahoma grew its stake in BlackRock by 0.5% in the second quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager’s stock valued at $2,123,000 after purchasing an additional 10 shares in the last quarter. TOWER TRUST & INVESTMENT Co lifted its position in shares of BlackRock by 1.3% in the second quarter. TOWER TRUST & INVESTMENT Co now owns 799 shares of the asset manager’s stock valued at $838,000 after buying an additional 10 shares during the last quarter. Ashton Thomas Securities LLC boosted its stake in shares of BlackRock by 4.7% during the 2nd quarter. Ashton Thomas Securities LLC now owns 223 shares of the asset manager’s stock worth $234,000 after acquiring an additional 10 shares during the period. Finally, Ameriflex Group Inc. boosted its stake in shares of BlackRock by 8.8% during the 2nd quarter. Ameriflex Group Inc. now owns 123 shares of the asset manager’s stock worth $127,000 after acquiring an additional 10 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BLK shares. Jefferies Financial Group lifted their target price on BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. The Goldman Sachs Group lifted their target price on BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Argus reiterated a “buy” rating on shares of BlackRock in a research note on Tuesday, July 8th. Zacks Research downgraded BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Finally, Keefe, Bruyette & Woods reduced their target price on BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating for the company in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,222.87.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the transaction, the director directly owned 61,369 shares of the company’s stock, valued at $68,763,964.50. The trade was a 21.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurence Fink sold 14,828 shares of the business’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the transaction, the chief executive officer directly owned 263,751 shares of the company’s stock, valued at $296,002,472.28. This trade represents a 5.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,494 shares of company stock valued at $74,694,573 over the last 90 days. 1.98% of the stock is currently owned by insiders.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,166.90 on Wednesday. The stock has a market capitalization of $180.69 billion, a PE ratio of 28.21, a P/E/G ratio of 2.22 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The business has a fifty day moving average price of $1,131.84 and a two-hundred day moving average price of $1,031.25. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,184.13.

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

BlackRock Announces Dividend

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

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.