BlackRock, Inc. (NYSE:BLK - Get Rating) CEO Laurence Fink sold 44,500 shares of BlackRock stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $684.61, for a total value of $30,465,145.00. Following the transaction, the chief executive officer now owns 563,771 shares in the company, valued at $385,963,264.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
BlackRock Stock Down 0.0 %
Shares of NYSE:BLK traded down $0.08 during midday trading on Friday, reaching $695.93. The company had a trading volume of 547,358 shares, compared to its average volume of 883,585. The company has a quick ratio of 4.33, a current ratio of 4.33 and a debt-to-equity ratio of 0.39. The business's 50 day moving average price is $633.39 and its 200 day moving average price is $687.70. The stock has a market cap of $105.44 billion, a PE ratio of 18.35, a P/E/G ratio of 3.64 and a beta of 1.25. BlackRock, Inc. has a 1-year low of $575.60 and a 1-year high of $973.16.
BlackRock (NYSE:BLK - Get Rating) last released its earnings results on Friday, July 15th. The asset manager reported $7.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.94 by ($0.58). The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.53 billion. BlackRock had a net margin of 30.12% and a return on equity of 15.72%. BlackRock's revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.03 EPS. Research analysts forecast that BlackRock, Inc. will post 33.76 EPS for the current fiscal year.
BlackRock Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Wednesday, September 7th will be given a $4.88 dividend. This represents a $19.52 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Tuesday, September 6th. BlackRock's dividend payout ratio is currently 51.46%.
Analysts Set New Price Targets
Several research analysts have weighed in on the company. Morgan Stanley reduced their target price on BlackRock from $801.00 to $773.00 and set an "overweight" rating on the stock in a report on Wednesday, July 27th. Citigroup reduced their target price on BlackRock from $1,035.00 to $900.00 and set a "buy" rating on the stock in a report on Tuesday, April 12th. JPMorgan Chase & Co. reduced their target price on BlackRock from $902.00 to $729.00 and set an "overweight" rating on the stock in a report on Friday, July 8th. BMO Capital Markets reduced their target price on BlackRock from $755.00 to $734.00 and set a "market perform" rating on the stock in a report on Thursday, April 14th. Finally, The Goldman Sachs Group cut their price target on BlackRock from $830.00 to $710.00 and set a "buy" rating on the stock in a report on Wednesday, June 29th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, BlackRock currently has an average rating of "Moderate Buy" and a consensus target price of $794.08.
Hedge Funds Weigh In On BlackRock
Institutional investors have recently bought and sold shares of the business. Steward Financial Group LLC acquired a new position in shares of BlackRock in the fourth quarter valued at approximately $27,000. Western Pacific Wealth Management LP acquired a new position in shares of BlackRock in the fourth quarter valued at approximately $27,000. Sierra Capital LLC acquired a new position in shares of BlackRock in the fourth quarter valued at approximately $29,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of BlackRock in the fourth quarter valued at approximately $29,000. Finally, ACG Wealth bought a new stake in shares of BlackRock in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 93.81% of the company's stock.
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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