Insider Selling: Mark Mccombe Sells 3,500 Shares of BlackRock Stock (BLK)
BlackRock (NYSE:BLK) Director Mark Mccombe sold 3,500 shares of the company’s stock on the open market in a transaction dated Thursday, August 14th. The stock was sold at an average price of $314.00, for a total transaction of $1,099,000.00. Following the completion of the transaction, the director now directly owns 33,364 shares of the company’s stock, valued at approximately $10,476,296. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
BlackRock (NYSE:BLK) traded up 1.47% on Monday, hitting $319.73. 465,223 shares of the company’s stock traded hands. BlackRock has a 52 week low of $257.19 and a 52 week high of $331.90. The stock has a 50-day moving average of $315. and a 200-day moving average of $307.2. The company has a market cap of $53.831 billion and a P/E ratio of 17.33.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, July 16th. The company reported $4.89 earnings per share for the quarter, beating the analysts’ consensus estimate of $4.43 by $0.46. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter last year, the company posted $4.15 earnings per share. BlackRock’s revenue was up 11.9% compared to the same quarter last year. On average, analysts predict that BlackRock will post $19.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 22nd. Stockholders of record on Tuesday, September 2nd will be given a dividend of $1.93 per share. This represents a $7.72 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, August 28th.
BLK has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of BlackRock in a research note on Thursday, July 17th. They now have a $368.00 price target on the stock, up previously from $366.50. Separately, analysts at Citigroup Inc. reiterated an “overweight” rating on shares of BlackRock in a research note on Thursday, July 17th. They now have a $391.00 price target on the stock, up previously from $387.00. Finally, analysts at RBC Capital raised their price target on shares of BlackRock from $387.00 to $397.00 in a research note on Thursday, July 17th. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $377.14.
BlackRock, Inc (NYSE:BLK) is an investment management firm.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.