MGO One Seven LLC Has $2.47 Million Stock Position in BlackRock $BLK

Key Points

• MGO One Seven LLC reduced its stake in BlackRock by 27.3%, holding 2,357 shares valued at approximately $2.47 million as per its latest SEC filing.
• BlackRock reported $11.55 earnings per share for the quarter, missing expectations slightly, despite a revenue increase of 25.2% year-over-year.
• The company declared a quarterly dividend of $5.21 per share, representing a yield of 1.7% with a dividend payout ratio of 50.39%.

MGO One Seven LLC decreased its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 27.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,357 shares of the asset manager's stock after selling 884 shares during the quarter. MGO One Seven LLC's holdings in BlackRock were worth $2,473,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Welch Group LLC grew its stake in BlackRock by 1.2% in the 2nd quarter. Welch Group LLC now owns 760 shares of the asset manager's stock valued at $797,000 after buying an additional 9 shares during the last quarter. Cypress Capital Group grew its stake in BlackRock by 2.7% in the 2nd quarter. Cypress Capital Group now owns 7,795 shares of the asset manager's stock valued at $8,178,000 after buying an additional 203 shares during the last quarter. Hazlett Burt & Watson Inc. grew its stake in BlackRock by 7.8% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 695 shares of the asset manager's stock valued at $725,000 after buying an additional 50 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in BlackRock by 1.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 33,632 shares of the asset manager's stock valued at $35,457,000 after buying an additional 480 shares during the last quarter. Finally, Ellis Investment Partners LLC boosted its holdings in BlackRock by 3.7% in the 2nd quarter. Ellis Investment Partners LLC now owns 475 shares of the asset manager's stock valued at $498,000 after purchasing an additional 17 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Price Performance

NYSE:BLK opened at $1,193.23 on Wednesday. The company has a 50-day moving average of $1,137.33 and a 200-day moving average of $1,038.10. The company has a market capitalization of $184.77 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 2.10 and a beta of 1.45. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,209.82. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same period in the prior year, the business earned $11.46 earnings per share. The company's revenue for the quarter was up 25.2% on a year-over-year basis. As a group, equities research analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were issued a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock's dividend payout ratio (DPR) is currently 50.39%.

Analyst Ratings Changes

A number of brokerages have weighed in on BLK. JPMorgan Chase & Co. increased their price target on shares of BlackRock from $1,093.00 to $1,242.00 and gave the company a "neutral" rating in a report on Thursday, October 2nd. Argus reissued a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. UBS Group reissued a "neutral" rating and issued a $980.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Barclays increased their price target on shares of BlackRock from $1,210.00 to $1,310.00 and gave the company an "overweight" rating in a report on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their price target on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,263.31.

Insider Activity

In related news, CEO Laurence Fink sold 14,828 shares of BlackRock stock in a transaction dated Thursday, July 24th. The shares were 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 $296,002,472.28. This trade represents a 5.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the transaction, the director directly owned 19,205 shares of the company's stock, valued at $21,617,148. This represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,494 shares of company stock valued at $74,694,573. Company insiders own 1.98% of the company's stock.

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.

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