BlackRock, Inc. (NYSE:BLK) General Counsel Christopher J. Meade Sells 3,100 Shares

BlackRock, Inc. (NYSE:BLKGet Free Report) General Counsel Christopher J. Meade sold 3,100 shares of BlackRock stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $793.86, for a total value of $2,460,966.00. Following the sale, the general counsel now owns 8,628 shares in the company, valued at approximately $6,849,424.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

BlackRock Trading Up 0.4 %

Shares of BlackRock stock opened at $796.68 on Friday. 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, Inc. has a 1 year low of $596.18 and a 1 year high of $819.00. The company has a market capitalization of $118.51 billion, a P/E ratio of 21.82, a P/E/G ratio of 2.02 and a beta of 1.38. The business has a 50 day moving average price of $788.45 and a 200 day moving average price of $716.16.

BlackRock (NYSE:BLKGet Free Report) last issued its quarterly earnings data on Friday, January 12th. The asset manager reported $9.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $0.82. BlackRock had a return on equity of 14.85% and a net margin of 30.81%. The firm had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the firm posted $8.93 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Sell-side analysts anticipate that BlackRock, Inc. will post 39.64 EPS for the current fiscal year.

BlackRock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Thursday, March 7th will be issued a $5.10 dividend. The ex-dividend date of this dividend is Wednesday, March 6th. This is an increase from BlackRock’s previous quarterly dividend of $5.00. This represents a $20.40 annualized dividend and a yield of 2.56%. BlackRock’s payout ratio is 54.78%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. OLD Point Trust & Financial Services N A purchased a new stake in shares of BlackRock during the 2nd quarter valued at $26,000. West Tower Group LLC purchased a new stake in shares of BlackRock during the 2nd quarter valued at $27,000. Tennessee Valley Asset Management Partners purchased a new stake in BlackRock during the 4th quarter worth $27,000. Private Wealth Management Group LLC purchased a new stake in BlackRock during the 4th quarter worth $28,000. Finally, Archer Investment Corp purchased a new stake in BlackRock during the 2nd quarter worth $29,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on BLK. JPMorgan Chase & Co. cut BlackRock from an “overweight” rating to a “neutral” rating and set a $708.00 target price on the stock. in a research report on Friday, December 15th. BNP Paribas raised BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price target on the stock in a report on Tuesday, December 12th. UBS Group raised their price target on BlackRock from $720.00 to $818.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. Finally, Morgan Stanley raised their price target on BlackRock from $836.00 to $897.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. Five research 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.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $785.73.

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

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