BlackRock, Inc. (NYSE:BLK) insider J. Richard Kushel sold 2,000 shares of BlackRock stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $541.61, for a total transaction of $1,083,220.00. The sale was disclosed in a document filed with the SEC, which is available through this link.
BlackRock, Inc. (BLK) opened at $539.53 on Friday. The company has a market cap of $87,538.16, a price-to-earnings ratio of 17.81, a P/E/G ratio of 1.46 and a beta of 1.76. BlackRock, Inc. has a twelve month low of $368.00 and a twelve month high of $594.52. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.09.
BlackRock (NYSE:BLK) last announced its earnings results on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, topping the consensus estimate of $5.94 by $0.30. The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The business’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the firm posted $5.14 EPS. analysts expect that BlackRock, Inc. will post 28.5 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be issued a $2.88 dividend. This represents a $11.52 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Tuesday, March 6th. This is an increase from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio (DPR) is 33.00%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Aperio Group LLC increased its holdings in shares of BlackRock by 8.6% during the 3rd quarter. Aperio Group LLC now owns 68,737 shares of the asset manager’s stock worth $30,732,000 after purchasing an additional 5,451 shares during the period. Honkamp Krueger Financial Services Inc. bought a new position in shares of BlackRock during the 3rd quarter worth about $222,000. Berkshire Asset Management LLC PA increased its holdings in shares of BlackRock by 33.0% during the 4th quarter. Berkshire Asset Management LLC PA now owns 899 shares of the asset manager’s stock worth $462,000 after purchasing an additional 223 shares during the period. New York State Common Retirement Fund increased its holdings in shares of BlackRock by 9.7% during the 3rd quarter. New York State Common Retirement Fund now owns 357,800 shares of the asset manager’s stock worth $159,969,000 after purchasing an additional 31,600 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of BlackRock by 4.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 418,198 shares of the asset manager’s stock valued at $186,973,000 after acquiring an additional 17,491 shares in the last quarter. Hedge funds and other institutional investors own 82.37% of the company’s stock.
A number of brokerages have issued reports on BLK. Citigroup lowered shares of BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 target price for the company. in a research note on Thursday, January 25th. Wells Fargo & Co restated a “market perform” rating and set a $555.00 price target (up previously from $535.00) on shares of BlackRock in a report on Tuesday, January 16th. Argus restated a “buy” rating and set a $620.00 price target (up previously from $520.00) on shares of BlackRock in a report on Tuesday, January 16th. Jefferies Group raised their price target on shares of BlackRock to $565.00 and gave the company a “hold” rating in a report on Monday, January 15th. Finally, Credit Suisse Group restated a “buy” rating and set a $680.00 price target on shares of BlackRock in a report on Friday, January 12th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $547.92.
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BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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