McGuire Investment Group LLC Has $10.25 Million Stake in BlackRock, Inc. (NYSE:BLK)

McGuire Investment Group LLC cut its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,791 shares of the asset manager’s stock after selling 132 shares during the quarter. BlackRock comprises about 1.4% of McGuire Investment Group LLC’s holdings, making the stock its 25th largest position. McGuire Investment Group LLC’s holdings in BlackRock were worth $10,246,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new stake in BlackRock during the 1st quarter worth about $27,000. Pineridge Advisors LLC acquired a new stake in BlackRock during the fourth quarter worth approximately $28,000. Fairscale Capital LLC bought a new stake in BlackRock in the second quarter worth approximately $31,000. Lam Group Inc. acquired a new position in BlackRock in the first quarter valued at approximately $33,000. Finally, Fairman Group LLC bought a new position in shares of BlackRock during the 4th quarter worth approximately $35,000. Institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BLK shares. Barclays boosted their target price on shares of BlackRock from $990.00 to $1,010.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Citigroup increased their target price on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Wells Fargo & Company lifted their price target on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group lowered their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Evercore ISI boosted their price objective on BlackRock from $945.00 to $995.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $972.23.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock worth $79,387,117 in the last quarter. 0.90% of the stock is owned by insiders.

BlackRock Price Performance

NYSE:BLK traded up $34.67 during trading hours on Friday, hitting $990.26. 927,686 shares of the company’s stock traded hands, compared to its average volume of 576,480. The firm has a market cap of $147.15 billion, a P/E ratio of 25.17, a P/E/G ratio of 1.94 and a beta of 1.30. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The business’s fifty day simple moving average is $899.39 and its two-hundred day simple moving average is $831.36. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $996.29.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. BlackRock’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the firm posted $10.91 earnings per share. On average, research analysts anticipate that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were issued a dividend of $5.10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.06%. BlackRock’s dividend payout ratio is 51.84%.

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.