BlackRock, Inc. (NYSE:BLK) CEO Sells $29,992,960.00 in Stock

BlackRock, Inc. (NYSE:BLKGet Rating) CEO Laurence Fink sold 40,960 shares of the stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $732.25, for a total value of $29,992,960.00. Following the completion of the sale, the chief executive officer now owns 508,211 shares of the company’s stock, valued at $372,137,504.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Laurence Fink also recently made the following trade(s):

  • On Tuesday, November 8th, Laurence Fink sold 14,600 shares of BlackRock stock. The shares were sold at an average price of $685.58, for a total value of $10,009,468.00.

BlackRock Price Performance

BLK stock opened at $736.32 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.03 and a quick ratio of 3.03. The company’s 50-day moving average is $630.12 and its 200-day moving average is $642.49. The stock has a market capitalization of $110.60 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 3.85 and a beta of 1.29. BlackRock, Inc. has a 1 year low of $503.12 and a 1 year high of $939.41.

BlackRock (NYSE:BLKGet Rating) last announced its quarterly earnings results on Thursday, October 13th. The asset manager reported $9.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.73 by $1.82. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.17 billion. BlackRock had a return on equity of 15.07% and a net margin of 29.84%. The company’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.95 earnings per share. Equities research analysts expect that BlackRock, Inc. will post 33.88 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 23rd. Investors of record on Wednesday, December 7th will be given a $4.88 dividend. This represents a $19.52 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Tuesday, December 6th. BlackRock’s payout ratio is currently 53.79%.

Analysts Set New Price Targets

BLK has been the topic of several analyst reports. StockNews.com began coverage on BlackRock in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. UBS Group lowered shares of BlackRock from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $700.00 to $585.00 in a research note on Tuesday, October 11th. The Goldman Sachs Group lifted their target price on shares of BlackRock from $615.00 to $741.00 and gave the stock a “buy” rating in a research note on Wednesday. Credit Suisse Group assumed coverage on shares of BlackRock in a research report on Tuesday, October 18th. They set a “neutral” rating and a $540.00 price target on the stock. Finally, BMO Capital Markets lowered their price objective on BlackRock from $495.00 to $481.00 and set a “market perform” rating for the company in a research report on Friday, October 14th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $703.92.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Probity Advisors Inc. grew its holdings in shares of BlackRock by 1.6% in the second quarter. Probity Advisors Inc. now owns 879 shares of the asset manager’s stock valued at $535,000 after acquiring an additional 14 shares in the last quarter. Regal Investment Advisors LLC boosted its position in BlackRock by 0.7% in the second quarter. Regal Investment Advisors LLC now owns 2,018 shares of the asset manager’s stock worth $1,229,000 after purchasing an additional 14 shares during the last quarter. Israel Discount Bank of New York boosted its position in BlackRock by 2.4% in the third quarter. Israel Discount Bank of New York now owns 594 shares of the asset manager’s stock worth $327,000 after purchasing an additional 14 shares during the last quarter. CAPROCK Group Inc. grew its stake in BlackRock by 0.9% in the 3rd quarter. CAPROCK Group Inc. now owns 1,767 shares of the asset manager’s stock valued at $972,000 after purchasing an additional 15 shares during the period. Finally, SouthState Corp increased its position in shares of BlackRock by 2.5% during the 1st quarter. SouthState Corp now owns 666 shares of the asset manager’s stock valued at $509,000 after purchasing an additional 16 shares during the last quarter. Institutional investors and hedge funds own 76.88% of the company’s stock.

About BlackRock

(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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