Traders Sell 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 companies 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 research firms have recently commented on BLK. Citigroup Inc. raised shares of BlackRock from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $340.00 to $410.00 in a research report on Wednesday, April 20th. Morgan Stanley reaffirmed a “buy” rating on shares of BlackRock in a report on Tuesday, June 7th. Zacks Investment Research cut shares of BlackRock from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Deutsche Bank AG reaffirmed a “buy” rating and issued a $386.00 price target on shares of BlackRock in a report on Sunday, June 5th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of BlackRock in a report on Friday, June 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $376.43.
The company has a market capitalization of $60.23 billion and a PE ratio of 19.51. The stock’s 50-day moving average price is $348.27 and its 200 day moving average price is $338.01.
BlackRock (NYSE:BLK) last announced its quarterly earnings data 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. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. The company’s revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.96 EPS. Equities research analysts forecast that BlackRock Inc. will post $19.19 earnings per share for the current fiscal year.
The company also recently announced 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. The ex-dividend date is Wednesday, August 31st. This represents a $9.16 annualized dividend and a yield of 2.50%.
In related 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 value of $710,560.00. Following the completion of the transaction, the director now directly owns 61,804 shares of the company’s stock, valued at $21,957,725.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 8,000 shares of the firm’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $356.55, for a total value of $2,852,400.00. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in shares of BlackRock by 70.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,770,422 shares of the company’s stock valued at $602,864,000 after buying an additional 734,356 shares during the period. WBI Investments Inc. purchased a new position in shares of BlackRock during the fourth quarter valued at approximately $58,063,000. Morgan Stanley boosted its position in shares of 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 period. Janus Capital Management boosted its position in shares of BlackRock by 37.1% in the third quarter. Janus Capital Management now owns 538,197 shares of the company’s stock valued at $160,105,000 after buying an additional 145,673 shares during the period. Finally, BlackRock Advisors LLC boosted its position in shares of BlackRock by 673.3% in the fourth quarter. BlackRock Advisors LLC now owns 60,492 shares of the company’s stock valued at $20,599,000 after buying an additional 52,669 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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