BlackRock (NYSE:BLK) Shares Up 0.3%

BlackRock, Inc. (NYSE:BLKGet Free Report)’s stock price shot up 0.3% on Wednesday . The company traded as high as $784.12 and last traded at $783.65. 479,732 shares traded hands during trading, a decline of 15% from the average session volume of 562,597 shares. The stock had previously closed at $781.08.

Analyst Ratings Changes

A number of brokerages recently weighed in on BLK. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. UBS Group boosted their price objective on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Morgan Stanley boosted their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $845.42.

Read Our Latest Stock Report on BLK

BlackRock Trading Up 0.3 %

The business’s 50 day moving average price is $775.16 and its two-hundred day moving average price is $791.10. The company has a market capitalization of $116.45 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 1.61 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32.

BlackRock (NYSE:BLKGet Free Report) last issued its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $7.93 EPS. Equities analysts forecast that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Friday, June 7th. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the sale, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the sale, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 9,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On BlackRock

A number of large investors have recently made changes to their positions in BLK. Tennessee Valley Asset Management Partners acquired a new stake in shares of BlackRock during the fourth quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new stake in shares of BlackRock during the first quarter valued at approximately $27,000. Private Wealth Management Group LLC acquired a new stake in shares of BlackRock during the fourth quarter valued at approximately $28,000. Pineridge Advisors LLC acquired a new stake in shares of BlackRock during the fourth quarter valued at approximately $28,000. Finally, LFA Lugano Financial Advisors SA raised its holdings in shares of BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 25 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

About BlackRock

(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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