BlackRock, Inc. (NYSE:BLK) Director Sells $10,100,000.00 in Stock

BlackRock, Inc. (NYSE:BLK) Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the completion of the sale, the director now directly owns 68,433 shares in the company, valued at approximately $69,117,330. This represents a 12.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

BlackRock Trading Up 0.2 %

NYSE:BLK opened at $1,020.19 on Friday. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,082.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The firm’s fifty day moving average is $1,024.23 and its 200-day moving average is $953.90. The firm has a market cap of $158.01 billion, a P/E ratio of 24.29, a P/E/G ratio of 1.82 and a beta of 1.28.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the firm posted $9.66 earnings per share. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. Equities analysts expect that BlackRock, Inc. will post 47.43 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were issued a $5.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 2.00%. BlackRock’s payout ratio is currently 48.57%.

Hedge Funds Weigh In On BlackRock

Institutional investors have recently added to or reduced their stakes in the business. FSA Wealth Management LLC acquired a new position in shares of BlackRock during the 3rd quarter valued at $26,000. Atwood & Palmer Inc. acquired a new stake in BlackRock in the fourth quarter worth $36,000. West Financial Advisors LLC bought a new stake in BlackRock in the fourth quarter valued at $39,000. Reston Wealth Management LLC acquired a new position in shares of BlackRock during the third quarter valued at about $37,000. Finally, MFA Wealth Advisors LLC grew its stake in shares of BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. TD Cowen raised their price objective on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. UBS Group raised their price target on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group boosted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, StockNews.com initiated coverage on BlackRock in a report on Friday. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and an average target price of $1,120.67.

BlackRock Company Profile

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.