BlackRock (NYSE:BLK) Trading Down 0.2%

BlackRock, Inc. (NYSE:BLK) traded down 0.2% on Tuesday . The stock traded as low as $777.02 and last traded at $779.59. 41,876 shares were traded during mid-day trading, a decline of 93% from the average session volume of 604,191 shares. The stock had previously closed at $781.08.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $930.00 target price (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Morgan Stanley lifted their target price on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. boosted their price objective on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Finally, UBS Group boosted their price objective on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $845.42.

BlackRock Price Performance

The stock has a fifty day moving average of $775.55 and a 200-day moving average of $790.91. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $116.16 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 1.59 and a beta of 1.34.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $7.93 earnings per share. On average, equities research analysts predict that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Friday, June 7th. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $5,151,600. The sale was disclosed in a document filed with the SEC, which is available through this link. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the sale, the chief executive officer now owns 383,168 shares in the company, valued at $309,327,694.72. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On BlackRock

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tennessee Valley Asset Management Partners purchased a new stake in shares of BlackRock in the fourth quarter valued at approximately $27,000. Redmont Wealth Advisors LLC purchased a new stake in shares of BlackRock in the 1st quarter worth about $27,000. Private Wealth Management Group LLC purchased a new stake in shares of BlackRock in the 4th quarter worth about $28,000. Pineridge Advisors LLC purchased a new stake in shares of BlackRock in the 4th quarter worth about $28,000. Finally, LFA Lugano Financial Advisors SA boosted its position in shares of BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after buying an additional 25 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

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.