BlackRock (NYSE:BLK - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $1,176.74 and last traded at $1,174.98, with a volume of 71745 shares changing hands. The stock had previously closed at $1,156.45.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the stock. Zacks Research cut shares of BlackRock from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Morgan Stanley cut their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a research report on Wednesday, July 16th. Argus restated a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Barclays raised their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, UBS Group restated a "neutral" rating and set a $980.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,171.93.
Get Our Latest Research Report on BLK
BlackRock Trading Up 1.3%
The company's 50 day moving average price is $1,124.77 and its 200 day moving average price is $1,021.36. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The firm has a market cap of $181.33 billion, a PE ratio of 28.31, a price-to-earnings-growth ratio of 2.21 and a beta of 1.45.
BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating the consensus estimate of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the firm posted $10.36 earnings per share. The business's revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.
BlackRock Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were paid a $5.21 dividend. The ex-dividend date was Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. BlackRock's payout ratio is currently 50.39%.
Insider Activity
In other BlackRock news, CEO Laurence Fink sold 14,828 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the sale, the chief executive officer owned 263,751 shares of the company's stock, valued at approximately $296,002,472.28. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rachel Lord sold 18,036 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the sale, the director directly owned 19,205 shares in the company, valued at approximately $21,617,148. The trade was a 48.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock worth $74,694,573 over the last three months. Insiders own 1.98% of the company's stock.
Institutional Trading of BlackRock
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLK. Brighton Jones LLC raised its holdings in BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock worth $1,615,000 after purchasing an additional 296 shares in the last quarter. Bison Wealth LLC increased its holdings in shares of BlackRock by 1.6% in the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager's stock valued at $1,078,000 after acquiring an additional 17 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of BlackRock in the 4th quarter valued at $216,000. Moody National Bank Trust Division acquired a new position in shares of BlackRock in the 1st quarter valued at $519,000. Finally, Rothschild Investment LLC increased its holdings in shares of BlackRock by 2.1% in the 1st quarter. Rothschild Investment LLC now owns 579 shares of the asset manager's stock valued at $548,000 after acquiring an additional 12 shares during the period. Institutional investors and hedge funds own 80.69% of the company's stock.
BlackRock Company Profile
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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.
Further Reading
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