Insider Selling: BlackRock, Inc. (NYSE:BLK) CEO Sells 40,960 Shares of Stock

BlackRock, Inc. (NYSE:BLKGet Rating) CEO Laurence Fink sold 40,960 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $732.25, for a total transaction of $29,992,960.00. Following the completion of the transaction, the chief executive officer now directly owns 508,211 shares in the company, valued at approximately $372,137,504.75. The sale was disclosed in a document filed with the SEC, which is available at 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 stock was sold at an average price of $685.58, for a total transaction of $10,009,468.00.

BlackRock Stock Up 0.4 %

BLK stock opened at $736.32 on Thursday. BlackRock, Inc. has a 52 week low of $503.12 and a 52 week high of $939.41. The company has a market capitalization of $110.60 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 3.85 and a beta of 1.29. The firm’s 50-day moving average is $628.27 and its two-hundred day moving average is $641.83. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 0.33.

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

BlackRock Announces Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, December 6th. This represents a $19.52 dividend on an annualized basis and a dividend yield of 2.65%. BlackRock’s payout ratio is currently 53.79%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Nvwm LLC increased its position in shares of BlackRock by 26.4% in the first quarter. Nvwm LLC now owns 115 shares of the asset manager’s stock worth $88,000 after acquiring an additional 24 shares in the last quarter. State of Alaska Department of Revenue grew its position in BlackRock by 6.8% during the second quarter. State of Alaska Department of Revenue now owns 22,542 shares of the asset manager’s stock valued at $13,728,000 after purchasing an additional 1,440 shares in the last quarter. Dimensional Fund Advisors LP grew its position in BlackRock by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 384,792 shares of the asset manager’s stock valued at $294,074,000 after purchasing an additional 5,783 shares in the last quarter. Foster Victor Wealth Advisors LLC grew its position in BlackRock by 7.2% during the second quarter. Foster Victor Wealth Advisors LLC now owns 12,119 shares of the asset manager’s stock valued at $7,450,000 after purchasing an additional 814 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its position in BlackRock by 20.2% during the second quarter. Hexagon Capital Partners LLC now owns 292 shares of the asset manager’s stock valued at $178,000 after purchasing an additional 49 shares in the last quarter. 76.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BLK has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of BlackRock from $642.00 to $846.00 and gave the stock a “buy” rating in a research note on Tuesday, November 15th. JPMorgan Chase & Co. dropped their price target on shares of BlackRock from $716.00 to $666.00 and set an “overweight” rating on the stock in a research note on Friday, October 14th. BMO Capital Markets dropped their price target on shares of BlackRock from $495.00 to $481.00 and set a “market perform” rating on the stock in a research note on Friday, October 14th. Credit Suisse Group assumed coverage on shares of BlackRock in a report on Tuesday, October 18th. They set a “neutral” rating and a $540.00 price objective for the company. Finally, Evercore ISI decreased their price objective on shares of BlackRock to $640.00 in a report on Thursday, October 20th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $703.92.

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.

Featured Stories

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

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.