BlackRock (NYSE:BLK) Shares Up 0.2%

BlackRock, Inc. (NYSE:BLKGet Free Report)’s share price shot up 0.2% on Friday . The company traded as high as $789.39 and last traded at $786.26. 94,094 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 602,674 shares. The stock had previously closed at $784.55.

Analysts Set New Price Targets

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

Get Our Latest Report on BlackRock

BlackRock Price Performance

The firm has a market capitalization of $116.67 billion, a P/E ratio of 20.00, a PEG ratio of 1.65 and a beta of 1.37. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The business’s 50-day simple moving average is $790.38 and its 200 day simple moving average is $781.53.

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

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be issued a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Thursday, June 6th. BlackRock’s dividend payout ratio is presently 51.84%.

Insider Buying and Selling

In related news, 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 transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the sale, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The disclosure for this sale can be found here. Insiders have sold a total of 70,956 shares of company stock worth $57,252,931 in the last ninety days. 0.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Invst LLC raised its position in shares of BlackRock by 7.3% in the 1st quarter. Invst LLC now owns 2,229 shares of the asset manager’s stock worth $1,843,000 after acquiring an additional 151 shares in the last quarter. PGGM Investments lifted its position in BlackRock by 204.2% during the first quarter. PGGM Investments now owns 4,095 shares of the asset manager’s stock valued at $3,414,000 after buying an additional 2,749 shares during the period. Swedbank AB bought a new stake in shares of BlackRock during the 1st quarter valued at $86,282,000. LRI Investments LLC bought a new position in shares of BlackRock in the 1st quarter worth about $70,000. Finally, Citizens Financial Group Inc. RI lifted its position in BlackRock by 15.7% during the 1st quarter. Citizens Financial Group Inc. RI now owns 532 shares of the asset manager’s stock valued at $444,000 after acquiring an additional 72 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

About BlackRock

(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.

Featured Articles

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.