Northern Financial Advisors Inc Sells 10 Shares of BlackRock $BLK

Northern Financial Advisors Inc lowered its position in shares of BlackRock (NYSE:BLK) by 1.2% during the second quarter, HoldingsChannel reports. The fund 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 reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairway Wealth LLC grew its position in BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC lifted its stake in shares of BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 15 shares during the period. Garde Capital Inc. lifted its stake in shares of BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 18 shares during the period. Cheviot Value Management LLC acquired a new position in shares of BlackRock in the 1st quarter valued at about $30,000. Finally, MorganRosel Wealth Management LLC acquired a new position in shares of BlackRock in the 1st quarter valued at about $31,000. Institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BLK. Zacks Research downgraded BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Jefferies Financial Group upped their price target on BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. The Goldman Sachs Group upped their price target 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. Morgan Stanley upped their price target on BlackRock from $1,224.00 to $1,362.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, 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 research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,222.87.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,166.90 on Wednesday. The company has a market cap of $180.69 billion, a PE ratio of 28.21, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,184.13. The business has a 50 day moving average price of $1,131.84 and a 200-day moving average price of $1,031.25. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate 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 prior year, the business posted $10.36 earnings per share. Equities analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders 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 dividend yield of 1.8%. BlackRock’s dividend 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.