BlackRock (NYSE:BLK) Stock Price Down 0.6%

BlackRock, Inc. (NYSE:BLKGet Free Report) was down 0.6% during trading on Thursday . The company traded as low as $781.71 and last traded at $784.18. Approximately 52,254 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 610,242 shares. The stock had previously closed at $788.88.

Analysts Set New Price Targets

BLK has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. UBS Group upped their price target on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Morgan Stanley raised their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, 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 research report on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $845.42.

Read Our Latest Stock Analysis on BlackRock

BlackRock Stock Performance

The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average is $780.28 and its two-hundred day moving average is $788.68. The stock has a market capitalization of $114.20 billion, a P/E ratio of 19.53, a P/E/G ratio of 1.63 and a beta of 1.34.

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, beating analysts’ consensus estimates of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. BlackRock’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.93 EPS. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be paid a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, June 7th. BlackRock’s payout ratio is currently 51.84%.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of BlackRock 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 transaction, 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 filing with the SEC, which is available through this hyperlink. In related news, Director Mark Wiedman sold 9,000 shares of the firm’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 transaction of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,151,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Laurence Fink sold 30,978 shares of the company’s 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 directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On BlackRock

A number of hedge funds have recently modified their holdings of the stock. Redmont Wealth Advisors LLC purchased a new stake in shares of BlackRock in the first quarter valued at $27,000. Tennessee Valley Asset Management Partners purchased a new position in BlackRock during the 4th quarter valued at about $27,000. Private Wealth Management Group LLC acquired a new position in shares of BlackRock in the 4th quarter valued at about $28,000. Pineridge Advisors LLC acquired a new stake in shares of BlackRock during the fourth quarter worth approximately $28,000. Finally, LFA Lugano Financial Advisors SA grew its position in BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 25 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

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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