BlackRock Inc. (BLK) Shares Gap Up to $335.11
BlackRock Inc. (NYSE:BLK) gapped up prior to trading on Friday . The stock had previously closed at $333.62, but opened at $335.11. BlackRock shares last traded at $343.44, with a volume of 225,529 shares.
A number of equities research analysts recently commented on BLK shares. Credit Suisse Group AG lifted their price target on shares of BlackRock from $359.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, April 12th. Morgan Stanley lowered their target price on shares of BlackRock from $370.00 to $368.00 and set an “overweight” rating on the stock in a report on Sunday, March 13th. Barclays PLC boosted their target price on shares of BlackRock from $314.00 to $347.00 and gave the company an “equal weight” rating in a report on Tuesday, April 5th. Deutsche Bank AG boosted their target price on shares of BlackRock from $349.00 to $356.00 and gave the company a “buy” rating in a report on Friday, March 18th. Finally, Zacks Investment Research cut shares of BlackRock from a “buy” rating to a “hold” rating in a report on Monday, May 9th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $374.80.
The stock has a 50-day moving average of $348.59 and a 200 day moving average of $335.04. The company has a market capitalization of $57.02 billion and a P/E ratio of 18.29.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Thursday, April 14th. The company reported $4.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.29 by $0.04. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.73 billion. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.89 EPS. Equities research analysts predict that BlackRock Inc. will post $19.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 23rd. Shareholders of record on Monday, June 6th were given a $2.29 dividend. The ex-dividend date was Thursday, June 2nd. This represents a $9.16 annualized dividend and a yield of 2.65%.
In other BlackRock news, Director Susan Wagner sold 8,665 shares of the stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $365.39, for a total value of $3,166,104.35. Following the transaction, the director now directly owns 521,012 shares in the company, valued at $190,372,574.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Fairbairn sold 2,000 shares of the stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $355.28, for a total transaction of $710,560.00. Following the completion of the transaction, the director now owns 61,804 shares in the company, valued at $21,957,725.12. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have added to or reduced their stakes in the company. California Public Employees Retirement System increased its position in BlackRock by 3.4% in the fourth quarter. California Public Employees Retirement System now owns 338,800 shares of the company’s stock valued at $115,368,000 after buying an additional 11,200 shares during the last quarter. Brown Advisory Inc. increased its position in BlackRock by 3.1% in the fourth quarter. Brown Advisory Inc. now owns 18,712 shares of the company’s stock valued at $6,372,000 after buying an additional 566 shares during the last quarter. Morgan Stanley increased its position in BlackRock by 5.5% in the fourth quarter. Morgan Stanley now owns 2,872,155 shares of the company’s stock valued at $978,027,000 after buying an additional 149,889 shares during the last quarter. Whittier Trust Co. increased its position in BlackRock by 1.8% in the fourth quarter. Whittier Trust Co. now owns 37,062 shares of the company’s stock valued at $12,620,000 after buying an additional 671 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its position in BlackRock by 4.1% in the fourth quarter. OppenheimerFunds Inc. now owns 210,127 shares of the company’s stock valued at $71,555,000 after buying an additional 8,367 shares during the last quarter.
BlackRock, Inc is an investment management firm. The Company provides investment and risk management services to institutional and retail clients across the world. Its product offerings include single- and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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