Jmac Enterprises LLC Buys 100 Shares of BlackRock $BLK

Jmac Enterprises LLC increased its stake in BlackRock (NYSE:BLK) by 8.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,230 shares of the asset manager’s stock after acquiring an additional 100 shares during the quarter. Jmac Enterprises LLC’s holdings in BlackRock were worth $1,291,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BLK. Brighton Jones LLC increased its stake in shares of BlackRock by 23.1% in the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after acquiring an additional 296 shares in the last quarter. Bison Wealth LLC increased its stake in shares of BlackRock by 1.6% in the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock valued at $1,078,000 after acquiring an additional 17 shares in the last quarter. RFG Advisory LLC bought a new stake in shares of BlackRock in the 1st quarter valued at $1,120,000. Portside Wealth Group LLC bought a new stake in shares of BlackRock in the 1st quarter valued at $277,000. Finally, Clare Market Investments LLC bought a new stake in shares of BlackRock in the 1st quarter valued at $1,321,000. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

BLK has been the subject of a number of recent research reports. Morgan Stanley decreased their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating for the company in a research note on Wednesday, July 16th. Argus restated a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. Barclays upped their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Jefferies Financial Group upped their price objective on shares of BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Finally, Evercore ISI upped their price objective on shares of BlackRock from $1,170.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,194.86.

BlackRock Stock Performance

NYSE BLK opened at $1,160.23 on Friday. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,183.50. 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 firm has a market cap of $179.66 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 2.18 and a beta of 1.45. The company has a fifty day moving average price of $1,128.92 and a 200-day moving average price of $1,026.28.

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

BlackRock Announces Dividend

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

Insider Activity

In related news, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the transaction, the director owned 61,369 shares in the company, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the transaction, the director owned 3,506 shares of the company’s stock, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is owned by 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.