BlackRock, Inc. (NYSE:BLK) Short Interest Up 12.7% in March

BlackRock, Inc. (NYSE:BLKGet Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,780,000 shares, an increase of 12.7% from the February 29th total of 1,580,000 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 577,900 shares, the short-interest ratio is currently 3.1 days.

Insider Activity at BlackRock

In related news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the transaction, the general counsel now directly owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other BlackRock news, General Counsel Christopher J. Meade sold 18,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the sale, the general counsel now directly owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the sale, the director now directly owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The disclosure for this sale can be found here. Insiders have sold a total of 100,511 shares of company stock worth $71,864,028 over the last quarter. Insiders own 1.06% of the company’s stock.

Hedge Funds Weigh In On BlackRock

A number of large investors have recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in BlackRock by 1.9% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock valued at $712,000 after purchasing an additional 21 shares in the last quarter. McGlone Suttner Wealth Management Inc. grew its stake in BlackRock by 8.5% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after purchasing an additional 60 shares in the last quarter. Sara Bay Financial acquired a new stake in BlackRock during the 4th quarter valued at approximately $387,000. Aspen Grove Capital LLC acquired a new stake in BlackRock during the 2nd quarter valued at approximately $208,000. Finally, BKM Wealth Management LLC acquired a new stake in BlackRock during the 4th quarter valued at approximately $2,758,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Down 1.2 %

BlackRock stock opened at $816.59 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. BlackRock has a 1-year low of $596.18 and a 1-year high of $845.00. The company has a market cap of $121.62 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. The stock’s 50 day moving average price is $807.15 and its 200 day moving average price is $745.77.

BlackRock (NYSE:BLKGet Free Report) last posted its earnings results on Friday, January 12th. The asset manager reported $9.66 EPS for the quarter, topping analysts’ consensus estimates of $8.84 by $0.82. BlackRock had a return on equity of 14.74% and a net margin of 30.81%. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the business earned $8.93 earnings per share. BlackRock’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts predict that BlackRock will post 39.81 EPS for the current fiscal year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Thursday, March 7th were issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.50%. This is an increase from BlackRock’s previous quarterly dividend of $5.00. The ex-dividend date of this dividend was Wednesday, March 6th. BlackRock’s dividend payout ratio (DPR) is 55.88%.

Analyst Ratings Changes

BLK has been the subject of a number of research analyst reports. BNP Paribas upgraded BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price target for the company in a report on Tuesday, December 12th. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and raised their target price for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. UBS Group raised their target price on BlackRock from $720.00 to $818.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Finally, JPMorgan Chase & Co. raised their target price on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $789.67.

Read Our Latest Stock Report on BLK

BlackRock Company Profile

(Get Free Report)

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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