J. Richard Kushel Sells 520 Shares of BlackRock, Inc. (NYSE:BLK) Stock

BlackRock, Inc. (NYSE:BLKGet Free Report) Director J. Richard Kushel sold 520 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $784.69, for a total transaction of $408,038.80. Following the sale, the director now directly owns 4,150 shares in the company, valued at approximately $3,256,463.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

J. Richard Kushel also recently made the following trade(s):

  • On Thursday, February 1st, J. Richard Kushel sold 3,418 shares of BlackRock stock. The shares were sold at an average price of $781.11, for a total transaction of $2,669,833.98.

BlackRock Trading Up 0.9 %

Shares of BlackRock stock opened at $794.70 on Thursday. The company’s fifty day simple moving average is $786.81 and its 200-day simple moving average is $715.35. The stock has a market capitalization of $118.22 billion, a PE ratio of 21.77, a P/E/G ratio of 1.99 and a beta of 1.38. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $819.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.72 and a quick ratio of 3.72.

BlackRock (NYSE:BLKGet Free Report) last released its earnings results on Friday, January 12th. The asset manager reported $9.66 earnings per share for the quarter, beating analysts’ consensus estimates of $8.84 by $0.82. BlackRock had a net margin of 30.81% and a return on equity of 14.85%. The company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the company earned $8.93 EPS. BlackRock’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities analysts anticipate that BlackRock, Inc. will post 39.64 earnings per share for the current year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Thursday, March 7th will be paid a dividend of $5.10 per share. This is a boost from BlackRock’s previous quarterly dividend of $5.00. The ex-dividend date is Wednesday, March 6th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.57%. BlackRock’s payout ratio is 54.78%.

Institutional Trading of BlackRock

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Abacus Planning Group Inc. increased its holdings in shares of BlackRock by 4.0% in the 4th quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after purchasing an additional 13 shares in the last quarter. Knuff & Co LLC increased its holdings in shares of BlackRock by 48.1% in the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 13 shares in the last quarter. Key Financial Inc increased its holdings in shares of BlackRock by 2.7% in the 2nd quarter. Key Financial Inc now owns 540 shares of the asset manager’s stock valued at $373,000 after purchasing an additional 14 shares in the last quarter. Everhart Financial Group Inc. grew its stake in BlackRock by 3.2% in the 4th quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after acquiring an additional 14 shares during the last quarter. Finally, Spreng Capital Management Inc. grew its stake in BlackRock by 1.1% in the 4th quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after acquiring an additional 14 shares during the last quarter. 77.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on BLK. Morgan Stanley upped their price target on shares of BlackRock from $836.00 to $897.00 and gave the company an “overweight” rating in a research report on Monday, October 16th. UBS Group upped their price target on shares of BlackRock from $720.00 to $818.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and upped their price target for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft cut their price target on shares of BlackRock from $814.00 to $800.00 and set a “buy” rating for the company in a research report on Wednesday, October 11th. Finally, BNP Paribas upgraded shares of BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price target for the company in a research report on Tuesday, December 12th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $785.73.

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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.

Further Reading

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

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