Mark Wiedman Sells 12,000 Shares of BlackRock, Inc. (NYSE:BLK) Stock

BlackRock, Inc. (NYSE:BLK) Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at $5,832,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Mark Wiedman also recently made the following trade(s):

• On Thursday, August 15th, Mark Wiedman sold 12,000 shares of BlackRock stock. The stock was sold at an average price of $875.03, for a total value of $10,500,360.00.
• On Monday, August 12th, Mark Wiedman sold 11,061 shares of BlackRock stock. The stock was sold at an average price of $852.95, for a total value of $9,434,479.95.
• On Tuesday, July 16th, Mark Wiedman sold 27,000 shares of BlackRock stock. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00.

BlackRock Stock Performance

Shares of BLK opened at $901.81 on Friday. The firm has a market cap of $134.01 billion, a PE ratio of 22.92, a PEG ratio of 1.92 and a beta of 1.32. The stock’s fifty day moving average price is $839.20 and its two-hundred day moving average price is $808.52. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $903.46.

BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.96 by $0.40. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $9.28 earnings per share. On average, equities research analysts forecast that BlackRock, Inc. will post 41.23 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a $5.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.26%. BlackRock’s payout ratio is presently 51.84%.

Analysts Set New Price Targets

Several brokerages recently issued reports on BLK. Barclays assumed coverage on BlackRock in a report on Tuesday, August 27th. They set an “overweight” rating and a $985.00 price target for the company. Morgan Stanley lowered their target price on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. UBS Group cut their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. TD Cowen decreased their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Finally, Citigroup lifted their target price on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $881.47.

Institutional Investors Weigh In On BlackRock

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of BlackRock by 2.3% in the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after purchasing an additional 292,017 shares in the last quarter. Capital Research Global Investors grew its holdings in BlackRock by 11.1% during 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 buying 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 valued at $2,853,517,000 after buying an additional 1,279,952 shares during the period. Capital International Investors lifted its holdings in shares of BlackRock by 2.4% in the fourth quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock worth $2,006,490,000 after buying an additional 58,681 shares in the last quarter. Finally, Norges Bank bought a new position in shares of BlackRock in the fourth quarter valued at approximately $1,812,920,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Company Profile

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.