BlackRock (NYSE:BLK) Stock Price Up 1.4%

BlackRock, Inc. (NYSE:BLK) rose 1.4% during mid-day trading on Monday . The stock traded as high as $798.99 and last traded at $798.99. Approximately 60,962 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 604,657 shares. The stock had previously closed at $787.60.

Wall Street Analysts Forecast Growth

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

BlackRock Stock Performance

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 company has a market capitalization of $117.02 billion, a PE ratio of 20.01, a PEG ratio of 1.64 and a beta of 1.34. The stock’s fifty day simple moving average is $777.24 and its 200-day simple moving average is $792.54.

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

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were issued a $5.10 dividend. The ex-dividend date was Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.59%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Activity

In other news, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction on Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the sale, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Old Port Advisors raised its holdings in shares of BlackRock by 6.7% in the 1st quarter. Old Port Advisors now owns 368 shares of the asset manager’s stock worth $307,000 after purchasing an additional 23 shares in the last quarter. Cape Investment Advisory Inc. boosted its holdings in shares of BlackRock by 4.3% during the 1st quarter. Cape Investment Advisory Inc. now owns 342 shares of the asset manager’s stock worth $285,000 after buying an additional 14 shares during the period. SRN Advisors LLC bought a new stake in shares of BlackRock during the 1st quarter worth $1,238,000. Objective Capital Management LLC boosted its holdings in shares of BlackRock by 35.4% during the 1st quarter. Objective Capital Management LLC now owns 570 shares of the asset manager’s stock worth $475,000 after buying an additional 149 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in BlackRock by 14.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 266,379 shares of the asset manager’s stock valued at $221,619,000 after purchasing an additional 33,338 shares during the last quarter. 80.69% of the stock is 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.