Magnus Financial Group LLC Buys 33 Shares of BlackRock, Inc. (NYSE:BLK)

Magnus Financial Group LLC raised its stake in BlackRock, Inc. (NYSE:BLK) by 9.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 391 shares of the asset manager’s stock after buying an additional 33 shares during the period. Magnus Financial Group LLC’s holdings in BlackRock were worth $401,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BLK. FSA Wealth Management LLC acquired a new stake in BlackRock during the 3rd quarter valued at approximately $26,000. Atwood & Palmer Inc. acquired a new stake in shares of BlackRock during the fourth quarter worth $36,000. West Financial Advisors LLC bought a new position in BlackRock during the fourth quarter worth $39,000. Reston Wealth Management LLC acquired a new position in BlackRock in the third quarter valued at $37,000. Finally, MFA Wealth Advisors LLC boosted its position in BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the subject of several research analyst reports. StockNews.com started coverage on BlackRock in a research report on Thursday, January 16th. They issued a “hold” rating for the company. JPMorgan Chase & Co. boosted their price target on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Citigroup raised their price objective on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. TD Cowen boosted their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley raised their price target on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

BlackRock Trading Down 0.5 %

BLK opened at $1,006.61 on Thursday. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45. The firm has a market capitalization of $155.90 billion, a PE ratio of 23.97, a P/E/G ratio of 1.82 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The company’s 50-day moving average is $1,025.85 and its 200 day moving average is $951.47.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the company earned $9.66 earnings per share. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. As a group, research analysts predict that BlackRock, Inc. will post 47.43 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were paid a $5.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 2.03%. BlackRock’s payout ratio is 48.57%.

Insider Activity

In related news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Robert L. Goldstein sold 54,000 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the transaction, the chief operating officer now directly owns 41,916 shares in the company, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

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.