BlackRock, Inc. (NYSE:BLK) Short Interest Down 7.5% in June

BlackRock, Inc. (NYSE:BLK) was the target of a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 1,609,700 shares, a decrease of 7.5% from the May 30th total of 1,741,000 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average trading volume of 504,700 shares, the short-interest ratio is currently 3.2 days.

Shares of BLK stock traded down $2.54 during mid-day trading on Monday, reaching $479.92. The stock had a trading volume of 12,996 shares, compared to its average volume of 462,952. The company has a 50 day moving average of $452.55. The company has a current ratio of 3.49, a quick ratio of 3.49 and a debt-to-equity ratio of 0.83. BlackRock has a one year low of $360.79 and a one year high of $513.00. The company has a market capitalization of $74.55 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 1.74 and a beta of 1.52.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, April 16th. The asset manager reported $6.61 EPS for the quarter, topping the Zacks’ consensus estimate of $6.13 by $0.48. BlackRock had a return on equity of 13.46% and a net margin of 30.58%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter last year, the company earned $6.48 EPS. The company’s quarterly revenue was down 6.6% on a year-over-year basis. As a group, sell-side analysts expect that BlackRock will post 27.71 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were given a $3.30 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.75%. BlackRock’s dividend payout ratio is currently 49.02%.

In related news, CFO Gary Shedlin sold 2,750 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $467.99, for a total transaction of $1,286,972.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeff A. Smith sold 75 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $479.40, for a total value of $35,955.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,525 shares of company stock worth $16,591,075. 1.42% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the business. Valley National Advisers Inc. lifted its position in shares of BlackRock by 81.8% during the 1st quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock worth $26,000 after buying an additional 27 shares during the period. Ellis Investment Partners LLC bought a new position in shares of BlackRock during the 1st quarter worth approximately $26,000. Advisory Alpha LLC bought a new position in shares of BlackRock during the 1st quarter worth approximately $26,000. Harvest Group Wealth Management LLC bought a new position in shares of BlackRock during the 1st quarter worth approximately $37,000. Finally, Rational Advisors LLC lifted its position in shares of BlackRock by 260.0% during the 1st quarter. Rational Advisors LLC now owns 90 shares of the asset manager’s stock worth $38,000 after buying an additional 65 shares during the period. Institutional investors own 81.31% of the company’s stock.

BLK has been the subject of several recent analyst reports. UBS Group increased their target price on T. Rowe Price Group from $109.00 to $111.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Citigroup increased their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Barclays set a $24.00 target price on Tenet Healthcare and gave the company a “hold” rating in a research note on Wednesday, April 17th. Morgan Stanley decreased their target price on Virtus Investment Partners from $121.00 to $118.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Finally, Zacks Investment Research downgraded GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $506.88.

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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