Rachel Lord Sells 3,950 Shares of BlackRock, Inc. (NYSE:BLK) Stock

BlackRock, Inc. (NYSE:BLKGet Rating) Director Rachel Lord sold 3,950 shares of the business’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $773.41, for a total transaction of $3,054,969.50. Following the completion of the sale, the director now owns 8,319 shares in the company, valued at approximately $6,433,997.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

BlackRock Stock Performance

Shares of BlackRock stock opened at $727.03 on Thursday. The business has a 50 day moving average price of $624.87 and a 200-day moving average price of $639.33. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 0.33. BlackRock, Inc. has a 52 week low of $503.12 and a 52 week high of $946.34. The company has a market cap of $109.20 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 4.07 and a beta of 1.29.

BlackRock (NYSE:BLKGet Rating) last released its earnings results on Thursday, October 13th. The asset manager reported $9.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.73 by $1.82. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.17 billion. BlackRock had a return on equity of 15.07% and a net margin of 29.84%. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period last year, the business posted $10.95 earnings per share. Equities analysts anticipate that BlackRock, Inc. will post 33.87 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Investors of record on Wednesday, December 7th will be issued a $4.88 dividend. This represents a $19.52 annualized dividend and a yield of 2.68%. The ex-dividend date is Tuesday, December 6th. BlackRock’s dividend payout ratio (DPR) is presently 53.79%.

Wall Street Analyst Weigh In

BLK has been the subject of a number of research reports. Morgan Stanley lowered their price target on shares of BlackRock from $773.00 to $754.00 and set an “overweight” rating for the company in a report on Monday, October 3rd. BMO Capital Markets lowered their target price on shares of BlackRock from $495.00 to $481.00 and set a “market perform” rating for the company in a report on Friday, October 14th. StockNews.com began coverage on BlackRock in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. lowered their price target on BlackRock from $716.00 to $666.00 and set an “overweight” rating for the company in a research note on Friday, October 14th. Finally, Evercore ISI reduced their price objective on shares of BlackRock to $640.00 in a research note on Thursday, October 20th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $701.54.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BLK. IFM Investors Pty Ltd boosted its position in shares of BlackRock by 24.4% in the first quarter. IFM Investors Pty Ltd now owns 24,950 shares of the asset manager’s stock valued at $19,066,000 after acquiring an additional 4,900 shares during the period. Park Avenue Securities LLC grew its position in shares of BlackRock by 10.0% during the 1st quarter. Park Avenue Securities LLC now owns 6,012 shares of the asset manager’s stock valued at $4,594,000 after purchasing an additional 546 shares in the last quarter. Latitude Advisors LLC increased its holdings in shares of BlackRock by 50.0% in the first quarter. Latitude Advisors LLC now owns 345 shares of the asset manager’s stock worth $264,000 after purchasing an additional 115 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of BlackRock by 8.5% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 11,287 shares of the asset manager’s stock worth $8,625,000 after buying an additional 886 shares in the last quarter. Finally, Whittier Trust Co. grew its position in BlackRock by 1.0% during the first quarter. Whittier Trust Co. now owns 23,095 shares of the asset manager’s stock worth $17,648,000 after buying an additional 235 shares in the last quarter. Institutional investors own 76.88% of the company’s stock.

BlackRock Company Profile

(Get Rating)

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.

See Also

Insider Buying and Selling by Quarter for BlackRock (NYSE:BLK)

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