BlackRock (NYSE:BLK) Shares Down 0.8%

BlackRock, Inc. (NYSE:BLKGet Free Report) traded down 0.8% during trading on Tuesday . The company traded as low as $789.76 and last traded at $792.45. 49,201 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 603,931 shares. The stock had previously closed at $798.95.

Wall Street Analysts Forecast Growth

BLK has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. UBS Group raised their price target on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley upped their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and an average price target of $845.42.

View Our Latest Stock Analysis on BlackRock

BlackRock Trading Down 1.0 %

The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The stock has a market cap of $117.56 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.34. The business’s fifty day simple moving average is $776.33 and its 200 day simple moving average is $792.19.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the prior year, the firm earned $7.93 earnings per share. BlackRock’s revenue was up 11.4% compared to the same quarter last year. As a group, analysts expect that BlackRock, Inc. will post 41.25 EPS for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were paid a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Friday, June 7th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Activity at BlackRock

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the transaction, the chief executive officer now directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction on Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On BlackRock

Several institutional investors have recently modified their holdings of the stock. Redmont Wealth Advisors LLC acquired a new stake in BlackRock in the first quarter worth $27,000. Tennessee Valley Asset Management Partners acquired a new stake in BlackRock during the 4th quarter worth $27,000. Private Wealth Management Group LLC bought a new position in BlackRock during the fourth quarter worth about $28,000. Pineridge Advisors LLC acquired a new position in BlackRock in the fourth quarter valued at about $28,000. Finally, LFA Lugano Financial Advisors SA raised its position in shares of BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after purchasing an additional 25 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Company Profile

(Get Free Report)

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.

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