BlackRock, Inc. (NYSE:BLK – Get Rating) CEO Laurence Fink sold 44,500 shares of BlackRock stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $684.61, for a total value of $30,465,145.00. Following the transaction, the chief executive officer now owns 563,771 shares in the company, valued at $385,963,264.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
BlackRock Stock Down 0.0 %
Shares of NYSE:BLK traded down $0.08 during midday trading on Friday, reaching $695.93. The company had a trading volume of 547,358 shares, compared to its average volume of 883,585. The company has a quick ratio of 4.33, a current ratio of 4.33 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average price is $633.39 and its 200 day moving average price is $687.70. The stock has a market cap of $105.44 billion, a PE ratio of 18.35, a P/E/G ratio of 3.64 and a beta of 1.25. BlackRock, Inc. has a 1-year low of $575.60 and a 1-year high of $973.16.
BlackRock (NYSE:BLK – Get Rating) last released its earnings results on Friday, July 15th. The asset manager reported $7.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.94 by ($0.58). The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.53 billion. BlackRock had a net margin of 30.12% and a return on equity of 15.72%. BlackRock’s revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.03 EPS. Research analysts forecast that BlackRock, Inc. will post 33.76 EPS for the current fiscal year.
BlackRock Dividend Announcement
Analysts Set New Price Targets
Several research analysts have weighed in on the company. Morgan Stanley reduced their target price on BlackRock from $801.00 to $773.00 and set an “overweight” rating on the stock in a report on Wednesday, July 27th. Citigroup reduced their target price on BlackRock from $1,035.00 to $900.00 and set a “buy” rating on the stock in a report on Tuesday, April 12th. JPMorgan Chase & Co. reduced their target price on BlackRock from $902.00 to $729.00 and set an “overweight” rating on the stock in a report on Friday, July 8th. BMO Capital Markets reduced their target price on BlackRock from $755.00 to $734.00 and set a “market perform” rating on the stock in a report on Thursday, April 14th. Finally, The Goldman Sachs Group cut their price target on BlackRock from $830.00 to $710.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $794.08.
Hedge Funds Weigh In On BlackRock
Institutional investors have recently bought and sold shares of the business. Steward Financial Group LLC acquired a new position in shares of BlackRock in the fourth quarter valued at approximately $27,000. Western Pacific Wealth Management LP acquired a new position in shares of BlackRock in the fourth quarter valued at approximately $27,000. Sierra Capital LLC acquired a new position in shares of BlackRock in the fourth quarter valued at approximately $29,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of BlackRock in the fourth quarter valued at approximately $29,000. Finally, ACG Wealth bought a new stake in shares of BlackRock in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 93.81% of the company’s stock.
BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.
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