Susan Wagner Sells 4,000 Shares of BlackRock, Inc. (BLK) Stock
BlackRock, Inc. (NYSE:BLK) Director Susan Wagner sold 4,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the transaction, the director now owns 481,915 shares of the company’s stock, valued at approximately $243,897,181.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
BlackRock, Inc. (BLK) traded up $1.12 during midday trading on Friday, hitting $502.08. 574,691 shares of the stock traded hands, compared to its average volume of 437,738. The firm has a market capitalization of $80,500.00, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 1.74 and a beta of 1.79. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.09. BlackRock, Inc. has a 12 month low of $365.83 and a 12 month high of $509.00.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.49 by $0.43. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The company’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the business posted $5.14 earnings per share. research analysts expect that BlackRock, Inc. will post 22.29 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Monday, December 4th will be issued a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, December 1st. BlackRock’s payout ratio is 46.82%.
A number of brokerages have commented on BLK. Jefferies Group restated a “hold” rating and set a $440.00 price target on shares of BlackRock in a research note on Tuesday, September 26th. Wells Fargo & Company restated a “market perform” rating and set a $475.00 price target (up previously from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price target for the company in a research note on Tuesday, October 3rd. Keefe, Bruyette & Woods restated a “hold” rating and set a $500.00 price target on shares of BlackRock in a research note on Thursday, October 12th. Finally, BidaskClub cut shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $489.08.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Aperio Group LLC increased its holdings in shares of BlackRock by 8.6% in the third quarter. Aperio Group LLC now owns 68,737 shares of the asset manager’s stock valued at $30,732,000 after purchasing an additional 5,451 shares in the last quarter. Everett Harris & Co. CA increased its holdings in shares of BlackRock by 9.2% in the second quarter. Everett Harris & Co. CA now owns 100,143 shares of the asset manager’s stock valued at $42,301,000 after purchasing an additional 8,478 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of BlackRock by 48.9% in the second quarter. Canada Pension Plan Investment Board now owns 101,703 shares of the asset manager’s stock valued at $42,960,000 after purchasing an additional 33,400 shares in the last quarter. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of BlackRock in the third quarter valued at approximately $222,000. Finally, Blue Chip Partners Inc. increased its holdings in shares of BlackRock by 8.5% in the second quarter. Blue Chip Partners Inc. now owns 13,440 shares of the asset manager’s stock valued at $5,677,000 after purchasing an additional 1,055 shares in the last quarter. 83.76% of the stock is owned by institutional investors.
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BlackRock Company Profile
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.
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