BlackRock Inc. (BLK) Sets New 1-Year High at $376.54
Shares of BlackRock Inc. (NYSE:BLK) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $376.54 and last traded at $376.35, with a volume of 235,772 shares trading hands. The stock had previously closed at $373.80.
BLK has been the topic of a number of research analyst reports. Deutsche Bank AG restated a “buy” rating and issued a $392.00 target price (up from $372.00) on shares of BlackRock in a research note on Sunday, July 10th. Credit Suisse Group AG restated a “buy” rating on shares of BlackRock in a research note on Friday, June 10th. Keefe, Bruyette & Woods lowered BlackRock from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $390.00 to $383.00 in a research note on Friday, July 15th. Citigroup Inc. restated a “buy” rating on shares of BlackRock in a research note on Thursday, June 16th. Finally, Zacks Investment Research lowered BlackRock from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. BlackRock has an average rating of “Buy” and an average price target of $380.17.
The firm has a 50 day moving average of $365.27 and a 200-day moving average of $348.70. The firm has a market capitalization of $61.73 billion and a price-to-earnings ratio of 20.0005.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.82 by $0.04. During the same quarter last year, the firm earned $4.96 EPS. The firm earned $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. On average, equities analysts forecast that BlackRock Inc. will post $19.21 earnings per share for the current 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 given a $2.29 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $9.16 annualized dividend and a dividend yield of 2.45%.
In other news, Director J. Richard Kushel sold 8,000 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was 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 SEC, which can be accessed through this hyperlink. Also, Director Susan Wagner sold 8,665 shares of the business’s stock in a transaction dated 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 completion of 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.
Other institutional investors have made changes to their positions in the company. 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 valued at $113,861,000 after buying an additional 11,938 shares during the last quarter. BlackRock Advisors LLC boosted its stake 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. Finally, American International Group Inc. boosted its stake 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 valued at $19,029,000 after buying an additional 582 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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