Insider Selling: BlackRock, Inc. (NYSE:BLK) CEO Sells 30,978 Shares of Stock

BlackRock, Inc. (NYSE:BLKGet Free Report) CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the transaction, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Laurence Fink also recently made the following trade(s):

  • On Wednesday, February 28th, Laurence Fink sold 30,978 shares of BlackRock stock. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76.

BlackRock Stock Down 0.3 %

Shares of NYSE BLK opened at $781.94 on Friday. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00. The firm has a market cap of $116.20 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 1.65 and a beta of 1.37. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The stock’s 50-day simple moving average is $789.96 and its 200-day simple moving average is $782.42.

BlackRock (NYSE:BLKGet Free Report) last announced its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the company earned $7.93 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, equities analysts anticipate that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, June 6th. BlackRock’s payout ratio is 51.84%.

Analysts Set New Price Targets

BLK has been the topic of a number of research analyst reports. UBS Group lifted their target price on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. JPMorgan Chase & Co. lifted their target price on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Morgan Stanley lifted their target price on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $845.42.

Read Our Latest Research Report on BLK

Institutional Trading of BlackRock

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tennessee Valley Asset Management Partners bought a new stake in BlackRock in the fourth quarter valued at about $27,000. Redmont Wealth Advisors LLC bought a new stake in BlackRock in the first quarter valued at about $27,000. Private Wealth Management Group LLC bought a new stake in BlackRock in the fourth quarter valued at about $28,000. Pineridge Advisors LLC bought a new stake in BlackRock in the fourth quarter valued at about $28,000. Finally, LFA Lugano Financial Advisors SA increased its holdings in BlackRock by 208.3% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after buying an additional 25 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Company Profile

(Get Free Report)

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.

Further Reading

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

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