Investors Sell Shares of BlackRock (BLK) on Strength (BLK)

Traders sold shares of BlackRock (NYSE:BLK) on strength during trading on Tuesday. $176.00 million flowed into the stock on the tick-up and $217.05 million flowed out of the stock on the tick-down, for a money net flow of $41.05 million out of the stock. Of all stocks tracked, BlackRock had the 0th highest net out-flow for the day. BlackRock traded up $1.99 for the day and closed at $526.84

A number of equities research analysts have weighed in on BLK shares. Zacks Investment Research raised BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 target price on the stock in a report on Thursday, January 11th. Citigroup raised their target price on BlackRock to $625.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. Jefferies Group raised their target price on BlackRock to $565.00 and gave the company a “hold” rating in a report on Monday, January 15th. Credit Suisse Group raised their target price on BlackRock from $678.00 to $682.00 and gave the company an “outperform” rating in a report on Friday, April 13th. Finally, ValuEngine downgraded BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. BlackRock has an average rating of “Buy” and a consensus target price of $566.62.

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The company has a debt-to-equity ratio of 0.93, a current ratio of 2.94 and a quick ratio of 2.94. The firm has a market cap of $84,672.68, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 1.59 and a beta of 1.67.

BlackRock (NYSE:BLK) last announced its earnings results on Thursday, April 12th. The asset manager reported $6.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.39 by $0.31. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. BlackRock had a return on equity of 12.91% and a net margin of 39.22%. BlackRock’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $5.25 EPS. equities research analysts anticipate that BlackRock will post 28.06 earnings per share for the current year.

In related news, insider Mark Mccombe sold 2,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $520.64, for a total transaction of $1,041,280.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff A. Smith sold 1,250 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $536.57, for a total value of $670,712.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,936 shares of company stock valued at $11,344,847. 1.86% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Assetmark Inc. raised its position in shares of BlackRock by 57.1% in the 4th quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock worth $143,000 after acquiring an additional 101 shares in the last quarter. Oakworth Capital Inc. raised its position in shares of BlackRock by 67.6% in the 4th quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock worth $153,000 after acquiring an additional 123 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new position in shares of BlackRock in the 4th quarter worth about $181,000. Advantage Investment Management LLC raised its position in shares of BlackRock by 54.9% in the 4th quarter. Advantage Investment Management LLC now owns 367 shares of the asset manager’s stock worth $189,000 after acquiring an additional 130 shares in the last quarter. Finally, BTIM Corp. bought a new position in shares of BlackRock in the 4th quarter worth about $201,000. 84.77% of the stock is owned by hedge funds and other institutional investors.

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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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