BlackRock, Inc. (BLK) Insider Sells $240,533.00 in Stock

BlackRock, Inc. (NYSE:BLK) insider Jeff A. Smith sold 425 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $565.96, for a total transaction of $240,533.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

BlackRock, Inc. (NYSE:BLK) traded up $7.47 during midday trading on Tuesday, reaching $563.00. 1,370,549 shares of the company traded hands, compared to its average volume of 484,680. The stock has a market capitalization of $90,270.00, a PE ratio of 18.58, a P/E/G ratio of 1.51 and a beta of 1.81. BlackRock, Inc. has a 52-week low of $365.83 and a 52-week high of $571.82. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.09.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.94 by $0.30. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the prior year, the company posted $5.14 earnings per share. equities research analysts predict that BlackRock, Inc. will post 27.71 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be issued a dividend of $2.88 per share. This is a boost from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 annualized dividend and a yield of 2.05%. BlackRock’s dividend payout ratio is currently 33.00%.

A number of hedge funds and other institutional investors have recently bought and sold shares of BLK. Salem Investment Counselors Inc. raised its holdings in BlackRock by 14.3% during the second quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock worth $101,000 after purchasing an additional 30 shares in the last quarter. Invictus RG purchased a new position in BlackRock during the third quarter worth about $110,000. Harfst & Associates Inc. raised its holdings in BlackRock by 17.3% during the second quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock worth $111,000 after purchasing an additional 39 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in BlackRock by 133.3% in the second quarter. Tower Research Capital LLC TRC now owns 280 shares of the asset manager’s stock valued at $118,000 after buying an additional 160 shares in the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. increased its holdings in BlackRock by 1,119.2% in the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock valued at $141,000 after buying an additional 291 shares in the last quarter. 83.55% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on BLK shares. Goldman Sachs Group upgraded shares of BlackRock from a “neutral” rating to a “buy” rating and increased their target price for the stock from $440.00 to $500.00 in a research note on Thursday, September 28th. Wells Fargo & Co reiterated a “market perform” rating and set a $475.00 target price (up previously from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. Argus reiterated a “buy” rating and set a $620.00 target price (up previously from $520.00) on shares of BlackRock in a research note on Tuesday. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 target price for the company in a research note on Tuesday, October 3rd. Finally, Jefferies Group reiterated a “hold” rating and set a $440.00 target price on shares of BlackRock in a research note on Tuesday, September 26th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $547.92.

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About BlackRock

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.

Insider Buying and Selling by Quarter for BlackRock (NYSE:BLK)

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