Insider Selling: BlackRock (NYSE:BLK) Director Sells $13,980,480.00 in Stock

BlackRock (NYSE:BLK) Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the completion of the transaction, the director owned 7,205 shares in the company, valued at $8,394,113.20. This trade represents a 62.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Rachel Lord also recently made the following trade(s):

• On Friday, July 25th, Rachel Lord sold 18,036 shares of BlackRock stock. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60.

BlackRock Stock Performance

Shares of NYSE BLK opened at $1,138.60 on Friday. The business’s 50-day moving average price is $1,139.57 and its two-hundred day moving average price is $1,051.77. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The company has a market capitalization of $176.31 billion, a P/E ratio of 29.28, a price-to-earnings-growth ratio of 1.95 and a beta of 1.45.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. During the same quarter last year, the firm earned $11.46 EPS. The business’s revenue for the quarter was up 25.2% compared to the same quarter last year. Analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on BLK shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of BlackRock in a research note on Wednesday, October 8th. The Goldman Sachs Group upped their price target on BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Deutsche Bank Aktiengesellschaft set a $1,320.00 price target on BlackRock and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Citigroup upped their price target on BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Finally, JPMorgan Chase & Co. upped their price target on BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,299.29.

Institutional Trading of BlackRock

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Welch Group LLC grew its position in BlackRock by 1.2% in the 2nd quarter. Welch Group LLC now owns 760 shares of the asset manager’s stock worth $797,000 after purchasing an additional 9 shares during the last quarter. Stanley Laman Group Ltd. grew its position in BlackRock by 2.7% in the 2nd quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock worth $357,000 after purchasing an additional 9 shares during the last quarter. CNB Bank grew its position in BlackRock by 9.6% in the 2nd quarter. CNB Bank now owns 103 shares of the asset manager’s stock worth $108,000 after purchasing an additional 9 shares during the last quarter. Magellan Asset Management Ltd grew its position in BlackRock by 14.3% in the 2nd quarter. Magellan Asset Management Ltd now owns 72 shares of the asset manager’s stock worth $76,000 after purchasing an additional 9 shares during the last quarter. Finally, FAS Wealth Partners Inc. grew its position in BlackRock by 1.1% in the 2nd quarter. FAS Wealth Partners Inc. now owns 817 shares of the asset manager’s stock worth $857,000 after purchasing an additional 9 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

About BlackRock

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.