BlackRock, Inc. (NYSE:BLK) CEO Sells $30,465,145.00 in Stock

BlackRock, Inc. (NYSE:BLKGet Rating) CEO Laurence Fink sold 44,500 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $684.61, for a total value of $30,465,145.00. Following the sale, the chief executive officer now owns 563,771 shares of the company’s stock, valued at $385,963,264.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

BlackRock Stock Performance

Shares of BlackRock stock traded down $0.08 during mid-day trading on Friday, hitting $695.93. 547,358 shares of the stock were exchanged, compared to its average volume of 883,585. BlackRock, Inc. has a 12 month low of $575.60 and a 12 month high of $973.16. The company has a 50-day simple moving average of $633.39 and a 200 day simple moving average of $687.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.33 and a current ratio of 4.33. The company has a market capitalization of $105.44 billion, a P/E ratio of 18.35, a P/E/G ratio of 3.64 and a beta of 1.25.

BlackRock (NYSE:BLKGet Rating) last posted its earnings results on Friday, July 15th. The asset manager reported $7.36 EPS for the quarter, missing the consensus estimate of $7.94 by ($0.58). BlackRock had a return on equity of 15.72% and a net margin of 30.12%. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the prior year, the business earned $10.03 EPS. BlackRock’s quarterly revenue was down 6.1% compared to the same quarter last year. Sell-side analysts anticipate that BlackRock, Inc. will post 33.76 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Wednesday, September 7th will be given a dividend of $4.88 per share. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $19.52 annualized dividend and a dividend yield of 2.80%. BlackRock’s dividend payout ratio is currently 51.46%.

Hedge Funds Weigh In On BlackRock

Hedge funds have recently modified their holdings of the company. Ascent Group LLC increased its stake in shares of BlackRock by 19.7% during the 2nd quarter. Ascent Group LLC now owns 1,089 shares of the asset manager’s stock worth $729,000 after purchasing an additional 179 shares during the last quarter. Lindenwold Advisors increased its stake in shares of BlackRock by 1.5% during the 2nd quarter. Lindenwold Advisors now owns 3,140 shares of the asset manager’s stock worth $1,912,000 after purchasing an additional 47 shares during the last quarter. UNIVEST FINANCIAL Corp increased its stake in shares of BlackRock by 6.8% during the 2nd quarter. UNIVEST FINANCIAL Corp now owns 7,259 shares of the asset manager’s stock worth $4,421,000 after purchasing an additional 463 shares during the last quarter. Stokes Family Office LLC increased its stake in shares of BlackRock by 72.4% during the 2nd quarter. Stokes Family Office LLC now owns 8,812 shares of the asset manager’s stock worth $5,367,000 after purchasing an additional 3,701 shares during the last quarter. Finally, Meridian Wealth Management LLC grew its stake in BlackRock by 4.3% in the 2nd quarter. Meridian Wealth Management LLC now owns 944 shares of the asset manager’s stock valued at $575,000 after buying an additional 39 shares in the last quarter. Institutional investors own 93.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on BLK. Deutsche Bank Aktiengesellschaft decreased their price target on BlackRock from $747.00 to $725.00 in a report on Wednesday, July 13th. UBS Group cut their price objective on shares of BlackRock from $825.00 to $718.00 in a research report on Monday, July 11th. Jefferies Financial Group began coverage on shares of BlackRock in a research report on Wednesday, April 13th. They set a “buy” rating and a $873.00 price objective on the stock. Citigroup cut their price objective on shares of BlackRock from $1,035.00 to $900.00 and set a “buy” rating on the stock in a research report on Tuesday, April 12th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of BlackRock from $719.00 to $675.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 28th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $794.08.

BlackRock Company Profile

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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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