MGO One Seven LLC Lowers Position in BlackRock (NYSE:BLK)

Key Points

• MGO One Seven LLC reduced its stake in BlackRock by 8.6%, selling 305 shares during the first quarter, leaving them with 3,241 shares valued at approximately $3 million.
• BlackRock's CEO Laurence Fink sold over 14,800 shares recently, which represents a 5.32% decrease in his ownership, while the total insider sales in the past 90 days reached approximately $55 million.
• UBS Group reaffirmed a "neutral" rating on BlackRock shares with a price objective of $980, while Goldman Sachs maintains a "buy" rating with a higher target of $1,115.

MGO One Seven LLC cut its position in BlackRock (NYSE:BLK - Free Report) by 8.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,241 shares of the asset manager's stock after selling 305 shares during the quarter. MGO One Seven LLC's holdings in BlackRock were worth $3,068,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairway Wealth LLC boosted its position in BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after purchasing an additional 13 shares during the period. Investment Management Corp VA ADV acquired a new stake in shares of BlackRock during the fourth quarter worth $30,000. MorganRosel Wealth Management LLC acquired a new stake in shares of BlackRock during the first quarter worth $31,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of BlackRock during the first quarter worth $34,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of BlackRock during the first quarter worth $37,000. 80.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup dropped their target price on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Jefferies Financial Group boosted their price target on BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Keefe, Bruyette & Woods dropped their price target on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Barclays boosted their price target on BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Telsey Advisory Group reissued an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,151.21.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 14,828 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 263,751 shares in the company, valued at approximately $296,002,472.28. This represents a 5.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rachel Lord sold 18,036 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the transaction, the director directly owned 19,205 shares in the company, valued at $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock valued at $74,694,573 over the last 90 days. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Trading Down 1.3%

BLK stock traded down $14.72 during trading on Friday, hitting $1,091.29. The company had a trading volume of 672,794 shares, compared to its average volume of 646,030. The business has a 50-day moving average of $1,040.67 and a 200-day moving average of $981.44. BlackRock has a one year low of $773.74 and a one year high of $1,130.66. The stock has a market cap of $169.07 billion, a PE ratio of 26.39, a PEG ratio of 2.21 and a beta of 1.42. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating the consensus estimate of $10.41 by $1.64. The business had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The firm's revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $10.36 earnings per share. Research analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, September 5th. BlackRock's dividend payout ratio is presently 50.39%.

About BlackRock

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.