BlackRock, Inc. (NYSE:BLK) Director Sells $9,125,000.00 in Stock

BlackRock, Inc. (NYSE:BLK - Get Free Report) Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director now owns 66,034 shares in the company, valued at approximately $60,256,025. The trade was a 13.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

J. Richard Kushel also recently made the following trade(s):

• On Monday, April 21st, J. Richard Kushel sold 2,000 shares of BlackRock stock. The stock was sold at an average price of $852.01, for a total value of $1,704,020.00.
• On Friday, February 28th, J. Richard Kushel sold 430 shares of BlackRock stock. The stock was sold at an average price of $949.37, for a total value of $408,229.10.
• On Thursday, January 30th, J. Richard Kushel sold 10,000 shares of BlackRock stock. The shares were sold at an average price of $1,072.64, for a total value of $10,726,400.00.

BlackRock Trading Up 0.8 %

Shares of BLK stock traded up $7.18 on Monday, hitting $914.87. The stock had a trading volume of 685,176 shares, compared to its average volume of 685,214. The firm has a market capitalization of $142.04 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.90 and a beta of 1.38. BlackRock, Inc. has a 1 year low of $748.78 and a 1 year high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The company's 50 day moving average price is $922.02 and its 200-day moving average price is $983.87.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the prior year, the business posted $9.81 EPS. The business's revenue for the quarter was up 11.6% on a year-over-year basis. Analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were issued a dividend of $5.21 per share. The ex-dividend date was Friday, March 7th. This is an increase from BlackRock's previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 2.28%. BlackRock's dividend payout ratio (DPR) is currently 50.63%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley dropped their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Keefe, Bruyette & Woods cut their price target on BlackRock from $1,225.00 to $1,160.00 and set an "outperform" rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. decreased their target price on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. StockNews.com began coverage on shares of BlackRock in a research note on Tuesday, April 22nd. They set a "hold" rating for the company. Finally, Citigroup dropped their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, BlackRock has an average rating of "Moderate Buy" and an average price target of $1,077.08.

Institutional Investors Weigh In On BlackRock

Institutional investors have recently added to or reduced their stakes in the business. Xcel Wealth Management LLC boosted its position in shares of BlackRock by 107.2% during the 1st quarter. Xcel Wealth Management LLC now owns 1,477 shares of the asset manager's stock worth $1,398,000 after purchasing an additional 764 shares in the last quarter. Mutual Advisors LLC increased its position in shares of BlackRock by 1.2% in the first quarter. Mutual Advisors LLC now owns 3,310 shares of the asset manager's stock valued at $3,005,000 after buying an additional 39 shares in the last quarter. Resonant Capital Advisors LLC raised its stake in shares of BlackRock by 2.8% during the 1st quarter. Resonant Capital Advisors LLC now owns 615 shares of the asset manager's stock worth $582,000 after buying an additional 17 shares during the last quarter. Private Trust Co. NA grew its stake in BlackRock by 25.3% in the 1st quarter. Private Trust Co. NA now owns 1,554 shares of the asset manager's stock valued at $1,471,000 after acquiring an additional 314 shares during the last quarter. Finally, Alley Investment Management Company LLC grew its holdings in BlackRock by 0.4% during the 1st quarter. Alley Investment Management Company LLC now owns 21,841 shares of the asset manager's stock valued at $20,672,000 after buying an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

About BlackRock

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.