Traders Sell Shares of BlackRock, Inc. (BLK) on Strength (BLK)
Traders sold shares of BlackRock, Inc. (NYSE:BLK) on strength during trading on Monday. $38.01 million flowed into the stock on the tick-up and $89.11 million flowed out of the stock on the tick-down, for a money net flow of $51.10 million out of the stock. Of all stocks tracked, BlackRock had the 0th highest net out-flow for the day. BlackRock traded up $0.72 for the day and closed at $429.44
A number of research analysts recently commented on BLK shares. Morgan Stanley reiterated an “overweight” rating and set a $460.00 price objective (up previously from $422.00) on shares of BlackRock in a research note on Monday, July 10th. BidaskClub upgraded shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. Deutsche Bank AG reiterated a “buy” rating and set a $455.00 price objective (down previously from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $440.00 price objective on shares of BlackRock in a research note on Friday, August 18th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. BlackRock presently has a consensus rating of “Buy” and a consensus target price of $449.08.
The stock has a market cap of $70.39 billion, a PE ratio of 20.829 and a beta of 1.71. The firm has a 50-day moving average of $422.45 and a 200-day moving average of $406.87.
BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by ($0.15). BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the company posted $4.78 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts anticipate that BlackRock, Inc. will post $21.83 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be paid a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, August 31st. BlackRock’s payout ratio is presently 47.98%.
In other BlackRock news, insider Jeff A. Smith sold 522 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $421.52, for a total value of $220,033.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert W. Fairbairn sold 3,675 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. Insiders sold 4,447 shares of company stock valued at $1,855,015 in the last ninety days. Insiders own 1.86% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Financial Architects Inc increased its stake in BlackRock by 0.7% in the second quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock valued at $123,000 after purchasing an additional 2 shares in the last quarter. Davis R M Inc. increased its stake in BlackRock by 0.4% in the second quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock valued at $238,000 after purchasing an additional 2 shares in the last quarter. Eqis Capital Management Inc. increased its stake in BlackRock by 0.5% in the first quarter. Eqis Capital Management Inc. now owns 609 shares of the asset manager’s stock valued at $233,000 after purchasing an additional 3 shares in the last quarter. National Asset Management Inc. increased its stake in BlackRock by 0.4% in the first quarter. National Asset Management Inc. now owns 716 shares of the asset manager’s stock valued at $275,000 after purchasing an additional 3 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its stake in BlackRock by 1.2% in the second quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock valued at $111,000 after purchasing an additional 3 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: This article was posted by Daily Political and is the property of of Daily Political. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.dailypolitical.com/2017/09/20/traders-sell-shares-of-blackrock-inc-blk-on-strength-blk-2.html.
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
Receive News & Ratings for BlackRock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock Inc. and related companies with MarketBeat.com's FREE daily email newsletter.