Insider Selling: BlackRock (NYSE:BLK) Director Sells 18,036 Shares of Stock

Key Points

• BlackRock Director Rachel Lord sold 18,036 shares of the company's stock for over $20 million, resulting in a 48.43% decrease in her position.
• The company is set to pay a quarterly dividend of $5.21 per share on September 23rd, representing an annualized yield of 1.85%.
• BlackRock recently reported earnings of $12.05 per share, significantly beating analysts' expectations and reflecting a 12.9% year-over-year revenue growth.

BlackRock (NYSE:BLK - Get Free Report) Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction 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 completion of the transaction, the director directly owned 19,205 shares of the company's stock, valued at approximately $21,617,148. This represents a 48.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

BlackRock Price Performance

NYSE BLK traded up $5.11 on Friday, reaching $1,123.48. The company's stock had a trading volume of 516,296 shares, compared to its average volume of 672,644. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,130.66. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. The stock has a market cap of $174.06 billion, a PE ratio of 27.16, a PEG ratio of 2.26 and a beta of 1.41. The firm's 50 day moving average is $1,027.64 and its two-hundred day moving average is $976.79.

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 analysts' consensus estimates of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the firm earned $10.36 earnings per share. The business's quarterly revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock's dividend payout ratio is presently 50.39%.

Institutional Trading of BlackRock

A number of hedge funds have recently bought and sold shares of the company. Garde Capital Inc. lifted its position in shares of BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock worth $28,000 after purchasing an additional 18 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in BlackRock in the fourth quarter worth approximately $30,000. Fairway Wealth LLC increased its holdings in BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after buying an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC increased its holdings in BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock worth $28,000 after buying an additional 15 shares during the last quarter. Finally, MorganRosel Wealth Management LLC acquired a new position in BlackRock in the first quarter worth approximately $31,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of research reports. Argus reaffirmed a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Bank of America boosted their price target on shares of BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Jefferies Financial Group boosted their price target on shares of BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Citigroup reduced their price target on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $1,115.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,151.21.

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.

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