BlackRock Inc. (BLK) Hits New 1-Year High at $376.54
Shares of BlackRock Inc. (NYSE:BLK) reached a new 52-week high on Tuesday . The company traded as high as $376.54 and last traded at $376.35, with a volume of 235,772 shares. The stock had previously closed at $373.80.
A number of equities analysts recently commented on the stock. Deutsche Bank AG reaffirmed a “buy” rating and set a $392.00 price target (up from $372.00) on shares of BlackRock in a research note on Sunday, July 10th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of BlackRock in a research note on Friday, June 10th. Keefe, Bruyette & Woods cut shares of BlackRock from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $390.00 to $383.00 in a research note on Friday, July 15th. Citigroup Inc. reaffirmed a “buy” rating on shares of BlackRock in a research note on Thursday, June 16th. Finally, Zacks Investment Research cut shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. BlackRock has a consensus rating of “Buy” and a consensus target price of $380.17.
The stock’s 50-day moving average price is $366.49 and its 200 day moving average price is $349.37. The company has a market cap of $61.31 billion and a price-to-earnings ratio of 19.86.
BlackRock (NYSE:BLK) last announced its quarterly earnings results 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 business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period in the previous year, the company posted $4.96 EPS. BlackRock’s revenue was down 3.5% on a year-over-year basis. Equities research analysts expect that BlackRock Inc. will post $19.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd will be paid a $2.29 dividend. This represents a $9.16 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Wednesday, August 31st.
In other news, insider Ryan Stork sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $367.24, for a total value of $514,136.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J. Richard Kushel sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $356.55, for a total transaction of $2,852,400.00. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have bought and sold shares of BLK. American International Group Inc. raised its position in BlackRock by 1.1% in the fourth quarter. American International Group Inc. now owns 55,880 shares of the company’s stock valued at $19,029,000 after buying an additional 582 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of BlackRock by 3.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 334,373 shares of the company’s stock worth $113,861,000 after buying an additional 11,938 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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