BlackRock (NYSE:BLK) Trading 1.4% Higher

BlackRock, Inc. (NYSE:BLKGet Free Report)’s share price rose 1.4% on Friday . The company traded as high as $792.33 and last traded at $791.70. Approximately 99,070 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 600,622 shares. The stock had previously closed at $781.13.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of research analyst reports. 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 research report on Friday, April 12th. 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 research report on Monday, April 15th. 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 research report on Tuesday, April 2nd. Finally, 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 report on Friday, April 5th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

Check Out Our Latest Stock Analysis on BLK

BlackRock Trading Up 0.8 %

The company has a market cap of $117.00 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 1.61 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32. The business’s fifty day moving average price is $779.33 and its 200 day moving average price is $792.90.

BlackRock (NYSE:BLKGet Free Report) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.42 by $0.39. The business had revenue of $4.73 billion for 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 for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.93 earnings per share. Research analysts anticipate that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were issued a $5.10 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $20.40 annualized dividend and a yield of 2.59%. BlackRock’s payout ratio is 51.84%.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the business’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 transaction, the chief executive officer now owns 383,168 shares in the company, valued at $309,327,694.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other BlackRock news, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction 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 completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction of $25,008,229.62. Following the completion of the sale, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On BlackRock

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after acquiring an additional 292,017 shares in the last quarter. Capital Research Global Investors increased its position in shares of BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after acquiring an additional 435,358 shares in the last quarter. Capital World Investors increased its position in shares of BlackRock by 57.3% during the fourth quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after acquiring an additional 1,279,952 shares in the last quarter. Morgan Stanley increased its position in shares of BlackRock by 3.2% during the third quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock worth $2,178,048,000 after acquiring an additional 104,844 shares in the last quarter. Finally, Capital International Investors increased its position in shares of BlackRock by 2.4% during the fourth quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock worth $2,006,490,000 after acquiring an additional 58,681 shares in 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.

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