BlackRock, Inc. (BLK) Insider Jeff A. Smith Sells 250 Shares
BlackRock, Inc. (NYSE:BLK) insider Jeff A. Smith sold 250 shares of BlackRock stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Jeff A. Smith also recently made the following trade(s):
- On Tuesday, July 18th, Jeff A. Smith sold 522 shares of BlackRock stock. The stock was sold at an average price of $421.52, for a total value of $220,033.44.
Shares of BlackRock, Inc. (BLK) traded up 0.32% during trading on Wednesday, reaching $432.71. The company had a trading volume of 739,222 shares. BlackRock, Inc. has a 52-week low of $336.84 and a 52-week high of $442.83. The stock has a 50 day moving average of $424.93 and a 200 day moving average of $395.22. The stock has a market capitalization of $70.19 billion, a price-to-earnings ratio of 20.77 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 (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.39 by $0.15. BlackRock had a return on equity of 11.79% and a net margin of 29.92%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the business earned $4.78 EPS. The business’s revenue was up 5.7% on a year-over-year basis. Equities research analysts forecast that BlackRock, Inc. will post $21.82 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be issued a $2.50 dividend. The ex-dividend date is Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a yield of 2.31%. BlackRock’s dividend payout ratio is currently 47.98%.
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Institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd purchased a new stake in shares of BlackRock during the fourth quarter valued at approximately $3,923,000. Ibex Wealth Advisors purchased a new stake in shares of BlackRock during the fourth quarter valued at approximately $796,000. Migdal Insurance & Financial Holdings Ltd. raised its stake 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 during the last quarter. HighPoint Advisor Group LLC purchased a new stake in shares of BlackRock during the fourth quarter valued at approximately $291,000. Finally, Teachers Advisors LLC raised its stake in shares of BlackRock by 4.4% in the fourth quarter. Teachers Advisors LLC now owns 199,298 shares of the asset manager’s stock valued at $75,841,000 after buying an additional 8,321 shares during the last quarter. 80.92% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on BLK. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $440.00 target price on shares of BlackRock in a research report on Friday, July 14th. Morgan Stanley reiterated an “overweight” rating and set a $460.00 target price (up previously from $422.00) on shares of BlackRock in a research report on Monday, July 10th. Wells Fargo & Company reiterated a “market perform” rating and set a $425.00 target price (up previously from $380.00) on shares of BlackRock in a research report on Wednesday, July 12th. Deutsche Bank AG lifted their target price on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Finally, Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price on the stock in a research report on Tuesday, June 20th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. BlackRock currently has an average rating of “Buy” and an average target price of $434.93.
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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