BlackRock, Inc. (BLK) Insider Jeff A. Smith Sells 522 Shares
BlackRock, Inc. (NYSE:BLK) insider Jeff A. Smith sold 522 shares of the stock in a transaction that occurred on Tuesday, July 18th. The stock was 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 available at this link.
BlackRock, Inc. (NYSE BLK) traded down 0.10% during mid-day trading on Wednesday, reaching $426.46. The company’s stock had a trading volume of 517,563 shares. The company has a 50-day moving average price of $423.03 and a 200-day moving average price of $394.04. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $442.84. The firm has a market cap of $69.46 billion, a PE ratio of 20.47 and a beta of 1.71.
BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the consensus estimate of $5.39 by $0.15. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.01 billion. BlackRock had a return on equity of 11.79% and a net margin of 29.92%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $4.78 EPS. On average, equities research analysts expect that BlackRock, Inc. will post $21.90 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Monday, June 5th were issued a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 2.34%. The ex-dividend date was Thursday, June 1st. BlackRock’s dividend payout ratio is currently 47.98%.
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Several research analysts have issued reports on BLK shares. Deutsche Bank AG increased their price target on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Jefferies Group LLC reissued a “hold” rating and issued a $387.00 price objective on shares of BlackRock in a research note on Wednesday, May 17th. Bank of America Corporation reissued a “buy” rating and issued a $450.00 price objective on shares of BlackRock in a research note on Monday, June 19th. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price objective for the company in a research note on Tuesday, June 20th. Finally, BidaskClub raised BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. BlackRock currently has a consensus rating of “Buy” and an average price target of $434.93.
Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC increased its position in shares of BlackRock by 51.0% in the fourth quarter. AQR Capital Management LLC now owns 13,419 shares of the asset manager’s stock valued at $5,106,000 after buying an additional 4,530 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of BlackRock during the fourth quarter valued at $3,923,000. Ibex Wealth Advisors purchased a new position in shares of BlackRock during the fourth quarter valued at $796,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of BlackRock by 95.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 43,140 shares of the asset manager’s stock valued at $16,417,000 after buying an additional 21,075 shares in the last quarter. Finally, HighPoint Advisor Group LLC purchased a new position in shares of BlackRock during the fourth quarter valued at $291,000. 80.85% of the stock is owned by institutional investors.
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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