BlackRock (NYSE:BLK) Trading Down 0.7% – Time to Sell?

BlackRock, Inc. (NYSE:BLK) shares fell 0.7% on Monday . The stock traded as low as $976.79 and last traded at $985.06. 203,880 shares traded hands during trading, a decline of 74% from the average session volume of 796,786 shares. The stock had previously closed at $992.04.

Wall Street Analyst Weigh In

BLK has been the subject of a number of analyst reports. StockNews.com started coverage on shares of BlackRock in a research report on Sunday. They issued a “hold” rating for the company. Wells Fargo & Company upped their target price on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Citigroup increased their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

BlackRock Price Performance

The company has a market capitalization of $150.78 billion, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The company’s 50-day moving average price is $1,023.22 and its two-hundred day moving average price is $971.96.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the business posted $9.66 earnings per share. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, sell-side analysts expect that BlackRock, Inc. will post 47.44 EPS for the current year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 2.14%. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s dividend payout ratio is currently 48.57%.

Insider Transactions at BlackRock

In related news, COO Robert L. Goldstein sold 54,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now directly owns 41,916 shares in the company, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the transaction, the director now owns 68,433 shares in the company, valued at approximately $73,403,973.12. This trade represents a 12.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,190 shares of company stock valued at $115,163,141. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of BlackRock

Several large investors have recently modified their holdings of the stock. Marino Stram & Associates LLC lifted its position in BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after purchasing an additional 10 shares during the period. Fidelity D & D Bancorp Inc. lifted its holdings in shares of BlackRock by 3.7% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock worth $263,000 after acquiring an additional 10 shares during the period. Princeton Global Asset Management LLC boosted its position in shares of BlackRock by 8.7% during the 4th quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager’s stock worth $128,000 after acquiring an additional 10 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in BlackRock by 0.8% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager’s stock valued at $1,311,000 after acquiring an additional 10 shares during the last quarter. Finally, Legacy Capital Group California Inc. raised its position in BlackRock by 2.8% during the fourth quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager’s stock valued at $377,000 after purchasing an additional 10 shares in 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.