Investors Sell BlackRock (BLK) on Strength on Analyst Downgrade

Investors sold shares of BlackRock (NYSE:BLK) on strength during trading on Monday after Deutsche Bank lowered their price target on the stock from $623.00 to $614.00. $52.01 million flowed into the stock on the tick-up and $103.31 million flowed out of the stock on the tick-down, for a money net flow of $51.30 million out of the stock. Of all equities tracked, BlackRock had the 31st highest net out-flow for the day. BlackRock traded up $1.22 for the day and closed at $521.14

Other research analysts also recently issued research reports about the stock. JPMorgan Chase reaffirmed an “overweight” rating and issued a $640.00 price target on shares of BlackRock in a research note on Wednesday, March 14th. Zacks Investment Research downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. Citigroup cut shares of BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 target price on the stock. in a report on Thursday, January 25th. Wells Fargo reiterated a “market perform” rating and set a $555.00 target price (up from $535.00) on shares of BlackRock in a report on Tuesday, January 16th. Finally, Argus reiterated a “buy” rating and set a $620.00 target price (up from $520.00) on shares of BlackRock in a report on Tuesday, January 16th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $566.31.

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In other news, insider Mark Mccombe sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $520.64, for a total value of $1,041,280.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeff A. Smith sold 425 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $565.96, for a total transaction of $240,533.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,961 shares of company stock worth $11,375,444. 1.86% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Somerset Trust Co boosted its holdings in shares of BlackRock by 2.7% in the 4th quarter. Somerset Trust Co now owns 3,449 shares of the asset manager’s stock valued at $1,772,000 after buying an additional 90 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of BlackRock by 10.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 960 shares of the asset manager’s stock valued at $493,000 after buying an additional 93 shares in the last quarter. Naples Global Advisors LLC boosted its holdings in shares of BlackRock by 1.7% in the 4th quarter. Naples Global Advisors LLC now owns 5,495 shares of the asset manager’s stock valued at $2,823,000 after buying an additional 93 shares in the last quarter. Lau Associates LLC boosted its holdings in shares of BlackRock by 10.3% in the 4th quarter. Lau Associates LLC now owns 1,026 shares of the asset manager’s stock valued at $527,000 after buying an additional 96 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of BlackRock by 57.1% in the 4th quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock valued at $143,000 after buying an additional 101 shares in the last quarter. Institutional investors and hedge funds own 84.77% of the company’s stock.

The firm has a market cap of $83,560.50, a price-to-earnings ratio of 23.06, a PEG ratio of 1.50 and a beta of 1.67. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.93.

BlackRock (NYSE:BLK) last released its earnings results on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, topping analysts’ consensus estimates of $5.94 by $0.30. The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.31%. BlackRock’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period last year, the business earned $5.14 EPS. equities analysts forecast that BlackRock will post 28.32 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th were paid a $2.88 dividend. The ex-dividend date of this dividend was Tuesday, March 6th. This is a boost from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 dividend on an annualized basis and a yield of 2.21%. BlackRock’s dividend payout ratio (DPR) is 50.97%.

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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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