Laurence Fink Sells 30,978 Shares of BlackRock, Inc. (NYSE:BLK) Stock

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

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

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

BlackRock Price Performance

BlackRock stock opened at $781.90 on Friday. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00. 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 business has a fifty day moving average of $789.96 and a two-hundred day moving average of $783.36. The company has a market cap of $116.19 billion, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 1.62 and a beta of 1.37.

BlackRock (NYSE:BLKGet Free Report) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating 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 company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter last year, the company earned $7.93 earnings per share. BlackRock’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, analysts predict that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be paid a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Thursday, June 6th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of BlackRock by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after buying an additional 292,017 shares during the last quarter. Capital Research Global Investors raised its stake in BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares during the last quarter. Capital World Investors raised its stake in BlackRock by 57.3% in the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after purchasing an additional 1,279,952 shares during the last quarter. Morgan Stanley raised its stake in BlackRock by 3.2% in the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock valued at $2,178,048,000 after purchasing an additional 104,844 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in BlackRock by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock valued at $2,148,586,000 after purchasing an additional 35,161 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BLK. JPMorgan Chase & Co. raised 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 reaffirmed an “outperform” rating and issued a $930.00 target price (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. UBS Group raised their target price on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Morgan Stanley raised their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

View Our Latest Research Report on BlackRock

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.

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

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