BlackRock, Inc. (NYSE:BLK) Shares Acquired by McGlone Suttner Wealth Management Inc.

13 Oct 2024, 13:54 by Jessica Moore · The Cerbat Gem

McGlone Suttner Wealth Management Inc. grew its holdings in BlackRock, Inc. (NYSE:BLK – Free Report) by 10.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 846 shares of the asset manager’s stock after acquiring an additional 82 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in BlackRock were worth $804,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Capital Research Global Investors lifted its position in shares of BlackRock by 11.1% during the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after purchasing an additional 435,358 shares during the last quarter. Mayflower Financial Advisors LLC lifted its position in BlackRock by 24,171.5% in the first quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock valued at $346,831,000 after acquiring an additional 414,300 shares during the last quarter. Vanguard Group Inc. lifted its position in BlackRock by 2.3% in the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after acquiring an additional 292,017 shares during the last quarter. M&G Plc acquired a new position in BlackRock in the first quarter valued at $161,918,000. Finally, Mubadala Investment Co PJSC acquired a new position in BlackRock in the fourth quarter valued at $147,748,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In other news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now owns 6,480 shares in the company, valued at $5,407,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,042 shares of company stock valued at $79,387,117 in the last quarter. Company insiders own 0.90% of the company’s stock.

BlackRock Trading Up 3.6 %

NYSE:BLK traded up $34.67 during trading hours on Friday, reaching $990.26. 927,686 shares of the company were exchanged, compared to its average volume of 576,480. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $996.29. The stock has a 50 day simple moving average of $899.39 and a 200 day simple moving average of $831.36. The firm has a market cap of $147.15 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 1.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the prior year, the business earned $10.91 earnings per share. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, analysts predict that BlackRock, Inc. will post 41.73 EPS for the current year.

BlackRock Dividend Announcement

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

Analysts Set New Price Targets

BLK has been the topic of a number of recent research reports. Citigroup lifted their price objective on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft upped their target price on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Morgan Stanley upped their target price on shares of BlackRock from $1,036.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. UBS Group lowered their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, TD Cowen upped their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $972.23.

Check Out Our Latest Analysis on BlackRock

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