BlackRock, Inc. (BLK) Insider Sells $202,990.00 in Stock
BlackRock, Inc. (NYSE:BLK) insider Mark Mccombe sold 500 shares of BlackRock stock in a transaction on Friday, May 26th. The shares were sold at an average price of $405.98, for a total value of $202,990.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of BlackRock, Inc. (NYSE:BLK) traded up 0.16% on Friday, reaching $407.02. The company had a trading volume of 737,435 shares. The stock’s 50 day moving average is $386.77 and its 200 day moving average is $382.47. The firm has a market capitalization of $66.29 billion, a price-to-earnings ratio of 20.00 and a beta of 1.72. BlackRock, Inc. has a 52 week low of $317.60 and a 52 week high of $407.93.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, April 19th. The asset manager reported $5.25 EPS for the quarter, beating the Zacks’ consensus estimate of $4.94 by $0.31. BlackRock had a net margin of 28.44% and a return on equity of 11.20%. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter last year, the firm earned $4.25 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities analysts anticipate that BlackRock, Inc. will post $21.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Monday, June 5th will be issued a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, June 1st. BlackRock’s payout ratio is 48.11%.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC increased its position in shares of BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after buying an additional 85 shares during the last quarter. Stonebridge Capital Advisors LLC increased its position in shares of BlackRock by 0.7% in the first quarter. Stonebridge Capital Advisors LLC now owns 17,502 shares of the asset manager’s stock worth $6,712,000 after buying an additional 115 shares during the last quarter. Achmea Investment Management B.V. acquired a new position in shares of BlackRock during the first quarter worth approximately $2,421,000. Cambridge Trust Co. increased its position in shares of BlackRock by 3.6% in the first quarter. Cambridge Trust Co. now owns 39,488 shares of the asset manager’s stock worth $15,144,000 after buying an additional 1,371 shares during the last quarter. Finally, Bank of Nova Scotia increased its position in shares of BlackRock by 908.0% in the first quarter. Bank of Nova Scotia now owns 27,991 shares of the asset manager’s stock worth $10,735,000 after buying an additional 25,214 shares during the last quarter. 80.82% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the company. Deutsche Bank AG reaffirmed a “buy” rating and set a $441.00 price target (down previously from $449.00) on shares of BlackRock in a research note on Saturday, April 22nd. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of BlackRock in a research note on Wednesday, March 8th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $464.00 price target on shares of BlackRock in a research note on Thursday, February 9th. Jefferies Group LLC reaffirmed a “hold” rating and set a $387.00 price target on shares of BlackRock in a research note on Wednesday, May 17th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of BlackRock in a research note on Saturday, March 18th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. BlackRock currently has an average rating of “Hold” and an average target price of $410.70.
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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