Insider Selling: BlackRock (NYSE:BLK) Director Sells 12,000 Shares of Stock

Key Points

• BlackRock Director Rachel Lord sold 12,000 shares of the company's stock for a total of $13,980,480, reducing her ownership by 62.48% to 7,205 shares.
• BlackRock's stock price is currently at $1,127.42, down 0.2%, marking a slight decline despite the company reporting a quarterly revenue increase of 25.2% year-over-year.
• Analysts maintain a generally positive outlook on BlackRock, with a consensus rating of "Moderate Buy" and an average price target of $1,299.29 from 20 research analysts.

BlackRock (NYSE:BLK - Get Free Report) Director Rachel Lord sold 12,000 shares of the business's stock in a transaction on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the completion of the transaction, the director owned 7,205 shares in the company, valued at $8,394,113.20. This represents a 62.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rachel Lord also recently made the following trade(s):

• On Friday, July 25th, Rachel Lord sold 18,036 shares of BlackRock stock. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60.

BlackRock Stock Down 0.2%

BLK stock traded down $2.58 during trading on Wednesday, reaching $1,127.42. The stock had a trading volume of 612,624 shares, compared to its average volume of 723,904. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $174.58 billion, a P/E ratio of 28.99, a PEG ratio of 2.01 and a beta of 1.45. The firm has a fifty day moving average price of $1,140.89 and a 200 day moving average price of $1,046.85.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts' consensus estimates of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The firm had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.22 billion. During the same quarter in the prior year, the firm earned $11.46 EPS. The business's quarterly revenue was up 25.2% compared to the same quarter last year. On average, equities analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group upped their target price on shares of BlackRock from $1,196.00 to $1,325.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Barclays upped their target price on shares of BlackRock from $1,310.00 to $1,360.00 and gave the company an "overweight" rating in a research note on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft set a $1,320.00 target price on shares of BlackRock and gave the company a "buy" rating in a research note on Wednesday, October 15th. Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company cut their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,299.29.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Securian Asset Management Inc. bought a new position in BlackRock in the 1st quarter worth about $7,331,000. Prudent Man Advisors LLC bought a new position in shares of BlackRock in the first quarter valued at approximately $2,018,000. Allianz SE boosted its holdings in shares of BlackRock by 2.6% in the first quarter. Allianz SE now owns 11,025 shares of the asset manager's stock valued at $10,435,000 after acquiring an additional 277 shares in the last quarter. Arizona State Retirement System bought a new position in shares of BlackRock in the first quarter valued at approximately $40,868,000. Finally, Community Financial Services Group LLC boosted its holdings in shares of BlackRock by 17.2% in the first quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager's stock valued at $5,397,000 after acquiring an additional 836 shares in the last quarter. 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.

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