BlackRock Inc. (BLK) Shares Gap Up to $335.11
Shares of 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.
Several analysts have issued reports on the stock. Deutsche Bank AG increased their target price on shares of BlackRock from $349.00 to $356.00 and gave the stock a “buy” rating in a research note on Saturday, March 12th. Royal Bank Of Canada reissued a “buy” rating on shares of BlackRock in a report on Sunday, April 17th. Morgan Stanley reissued a “buy” rating on shares of BlackRock in a report on Sunday, April 17th. Zacks Investment Research raised shares of BlackRock from a “sell” rating to a “hold” rating in a report on Friday. Finally, Citigroup Inc. raised shares of BlackRock from a “neutral” rating to a “buy” rating and increased their price target for the stock from $340.00 to $410.00 in a report on Wednesday, April 20th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. BlackRock has an average rating of “Buy” and a consensus target price of $374.80.
The company has a market capitalization of $57.02 billion and a PE ratio of 18.29. The company has a 50 day moving average of $348.59 and a 200-day moving average of $335.04.
BlackRock (NYSE:BLK) last released its earnings results on Thursday, April 14th. The company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.29 by $0.04. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.73 billion. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.89 earnings per share. Equities analysts predict that BlackRock Inc. will post $19.42 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 23rd. Stockholders of record on Monday, June 6th were issued a $2.29 dividend. This represents a $9.16 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Thursday, June 2nd.
In related news, Director Jeff A. Smith sold 2,650 shares of the company’s stock in a transaction on Friday, April 15th. The shares were sold at an average price of $354.25, for a total transaction of $938,762.50. Following the sale, the director now owns 25,421 shares of the company’s stock, valued at $9,005,389.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Susan Wagner sold 8,665 shares of the company’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $365.39, for a total transaction of $3,166,104.35. Following the sale, the director now directly owns 521,012 shares in the company, valued at approximately $190,372,574.68. The disclosure for this sale can be found here.
A number of large investors have added to or reduced their stakes in BLK. Turner Investments L.P. increased its stake in BlackRock by 13.6% in the fourth quarter. Turner Investments L.P. now owns 3,000 shares of the company’s stock worth $1,022,000 after buying an additional 360 shares during the last quarter. Bank of Hawaii increased its stake in BlackRock by 277.6% in the fourth quarter. Bank of Hawaii now owns 3,021 shares of the company’s stock worth $1,028,000 after buying an additional 2,221 shares during the last quarter. MetLife Securities Inc increased its stake in BlackRock by 71.7% in the fourth quarter. MetLife Securities Inc now owns 3,088 shares of the company’s stock worth $1,052,000 after buying an additional 1,289 shares during the last quarter. Bollard Group LLC acquired a new stake in BlackRock during the fourth quarter worth about $1,064,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in 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 worth $1,154,000 after buying an additional 165 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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