BlackRock Inc. (BLK) Shares Gap Up to $366.60
BlackRock Inc. (NYSE:BLK) gapped up prior to trading on Monday . The stock had previously closed at $365.94, but opened at $366.60. BlackRock shares last traded at $371.07, with a volume of 126,940 shares traded.
Several equities research analysts have recently weighed in on the stock. Goldman Sachs Group Inc. cut shares of BlackRock from a “conviction-buy” rating to a “buy” rating and upped their price target for the stock from $390.00 to $400.00 in a research report on Monday, August 8th. Barclays PLC upped their price target on shares of BlackRock from $353.00 to $364.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 9th. Vetr cut shares of BlackRock from a “buy” rating to a “hold” rating and set a $382.97 price target for the company. in a research report on Tuesday. Zacks Investment Research raised shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Finally, Deutsche Bank AG upped their price target on shares of BlackRock from $392.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. BlackRock presently has a consensus rating of “Buy” and a consensus target price of $379.53.
The firm has a market cap of $60.97 billion and a PE ratio of 19.75. The firm has a 50 day moving average price of $356.00 and a 200-day moving average price of $343.82.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Thursday, July 14th. The company reported $4.78 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by $0.04. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $4.96 EPS. Equities research analysts forecast that BlackRock Inc. will post $19.21 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 2nd will be issued a $2.29 dividend. This represents a $9.16 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Wednesday, August 31st.
In related news, Director J. Richard Kushel sold 8,000 shares of BlackRock stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $356.55, for a total value of $2,852,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan Wagner sold 8,665 shares of BlackRock stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $365.39, for a total transaction of $3,166,104.35. Following the completion of the transaction, the director now owns 521,012 shares of the company’s stock, valued at approximately $190,372,574.68. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently modified their holdings of the company. Calvert Investment Management Inc. increased its position in shares of BlackRock by 46.2% in the fourth quarter. Calvert Investment Management Inc. now owns 8,877 shares of the company’s stock worth $3,023,000 after buying an additional 2,804 shares in the last quarter. Braver Wealth Management LLC increased its position in shares of BlackRock by 2.4% in the fourth quarter. Braver Wealth Management LLC now owns 9,015 shares of the company’s stock worth $3,070,000 after buying an additional 211 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of BlackRock during the fourth quarter worth about $4,062,000. American International Group Inc. increased its position in shares of BlackRock by 1.1% in the fourth quarter. American International Group Inc. now owns 55,880 shares of the company’s stock worth $19,029,000 after buying an additional 582 shares in the last quarter. Finally, BlackRock Advisors LLC increased 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 worth $20,599,000 after buying an additional 52,669 shares in the last quarter.
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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