BlackRock, Inc. (NYSE:BLK) Director Sells $1,289,224.48 in Stock

BlackRock, Inc. (NYSE:BLK) Director Pamela Daley sold 1,531 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The transaction was disclosed in a filing with the SEC, which is available at this link.

BlackRock Stock Up 1.7 %

Shares of NYSE:BLK opened at $854.47 on Friday. The firm has a 50 day simple moving average of $808.67 and a 200-day simple moving average of $799.32. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $885.10. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $126.97 billion, a PE ratio of 21.71, a P/E/G ratio of 1.92 and a beta of 1.32.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.53%. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period last year, the business earned $9.28 EPS. BlackRock’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts predict that BlackRock, Inc. will post 41.23 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be paid a dividend of $5.10 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.39%. BlackRock’s dividend payout ratio is presently 51.84%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BLK shares. TD Cowen dropped their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday, July 8th. Morgan Stanley cut their price objective on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft decreased their target price on BlackRock from $924.00 to $912.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Argus upped their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, UBS Group decreased their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $872.29.

Institutional Investors Weigh In On BlackRock

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC acquired a new position in shares of BlackRock in the 1st quarter valued at $27,000. Tennessee Valley Asset Management Partners acquired a new position in BlackRock in the fourth quarter valued at $27,000. Private Wealth Management Group LLC purchased a new stake in shares of BlackRock in the fourth quarter valued at about $28,000. Pineridge Advisors LLC acquired a new stake in shares of BlackRock during the fourth quarter worth about $28,000. Finally, Northwest Financial Advisors purchased a new position in shares of BlackRock during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

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.