Traders Sell Shares of BlackRock Inc. (BLK) on Strength (BLK)
Investors sold shares of BlackRock Inc. (NYSE:BLK) on strength during trading hours on Thursday. $32.48 million flowed into the stock on the tick-up and $45.85 million flowed out of the stock on the tick-down, for a money net flow of $13.37 million out of the stock. Of all stocks tracked, BlackRock had the 0th highest net out-flow for the day. BlackRock traded up $0.06 for the day and closed at $363.37
A number of brokerages have recently commented on BLK. Barclays PLC reissued an “equal weight” rating and issued a $363.00 price objective on shares of BlackRock in a research report on Wednesday, June 15th. Deutsche Bank AG cut their price objective on shares of BlackRock from $386.00 to $383.00 and set a “buy” rating on the stock in a research report on Thursday, June 16th. Royal Bank Of Canada boosted their price objective on shares of BlackRock from $367.00 to $392.00 and gave the stock an “outperform” rating in a research report on Friday, April 15th. Jefferies Group cut their price objective on shares of BlackRock from $359.00 to $357.00 and set a “hold” rating on the stock in a research report on Monday, July 11th. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of BlackRock in a research report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $376.43.
The company’s 50-day moving average is $348.04 and its 200-day moving average is $337.59. The firm has a market cap of $59.76 billion and a price-to-earnings ratio of 19.36.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Thursday, July 14th. The company reported $4.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by $0.04. During the same period in the prior year, the firm posted $4.96 earnings per share. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. Analysts anticipate that BlackRock Inc. will post $19.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 2nd will be given a $2.29 dividend. This represents a $9.16 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Wednesday, August 31st.
In other BlackRock news, Director Robert W. Fairbairn sold 2,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 61,804 shares in the company, valued at approximately $21,957,725.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan Wagner sold 8,665 shares of the firm’s stock in a transaction 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 owns 521,012 shares in the company, valued at $190,372,574.68. The disclosure for this sale can be found here.
A number of institutional investors recently modified their holdings of BLK. Turner Investments L.P. boosted its position in shares of BlackRock by 13.6% in the fourth quarter. Turner Investments L.P. now owns 3,000 shares of the company’s stock valued at $1,022,000 after buying an additional 360 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in shares of BlackRock by 5.1% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,389 shares of the company’s stock valued at $1,154,000 after buying an additional 165 shares during the period. Argent Trust Co boosted its position in shares of BlackRock by 3.8% in the third quarter. Argent Trust Co now owns 4,726 shares of the company’s stock valued at $1,406,000 after buying an additional 175 shares during the period. Victory Capital Management Inc. boosted its position in shares of BlackRock by 64.3% in the fourth quarter. Victory Capital Management Inc. now owns 4,521 shares of the company’s stock valued at $1,539,000 after buying an additional 1,770 shares during the period. Finally, Sei Investments Co. boosted its position in shares of BlackRock by 2.2% in the fourth quarter. Sei Investments Co. now owns 5,076 shares of the company’s stock valued at $1,729,000 after buying an additional 108 shares during the period.
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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