BlackRock, Inc. (NYSE:BLK – Get Rating) Director Stephen Cohen sold 1,149 shares of the firm's stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $753.46, for a total transaction of $865,725.54. Following the transaction, the director now directly owns 4,135 shares of the company's stock, valued at $3,115,557.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
BlackRock Stock Performance
BlackRock stock opened at $770.73 on Friday. BlackRock, Inc. has a 12-month low of $503.12 and a 12-month high of $824.87. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 0.33. The business's 50-day moving average price is $726.01 and its two-hundred day moving average price is $678.95. The stock has a market cap of $115.76 billion, a PE ratio of 22.98, a P/E/G ratio of 2.56 and a beta of 1.26.
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BlackRock (NYSE:BLK – Get Rating) last issued its quarterly earnings results on Friday, January 13th. The asset manager reported $8.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.99 by $0.94. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.16 billion. BlackRock had a return on equity of 14.43% and a net margin of 28.97%. As a group, analysts expect that BlackRock, Inc. will post 34.53 earnings per share for the current fiscal year.
BlackRock Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Tuesday, March 7th will be given a $5.00 dividend. The ex-dividend date is Monday, March 6th. This represents a $20.00 annualized dividend and a yield of 2.59%. This is a boost from BlackRock's previous quarterly dividend of $4.88. BlackRock's payout ratio is currently 57.50%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in BLK. Fairfield Bush & CO. bought a new position in BlackRock during the 1st quarter worth approximately $115,000. United Bank lifted its holdings in BlackRock by 17.1% in the 1st quarter. United Bank now owns 1,287 shares of the asset manager's stock worth $983,000 after buying an additional 188 shares during the period. Panagora Asset Management Inc. lifted its stake in shares of BlackRock by 2.6% in the 1st quarter. Panagora Asset Management Inc. now owns 1,978 shares of the asset manager's stock valued at $1,512,000 after purchasing an additional 51 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of BlackRock by 35.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,025 shares of the asset manager's stock valued at $783,000 after purchasing an additional 268 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of BlackRock by 11.7% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,452 shares of the asset manager's stock valued at $1,110,000 after purchasing an additional 152 shares during the period. Hedge funds and other institutional investors own 77.69% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. Wells Fargo & Company began coverage on shares of BlackRock in a research note on Wednesday, December 14th. They set an "overweight" rating and a $820.00 price target for the company. Evercore ISI cut their price objective on BlackRock to $640.00 in a report on Thursday, October 20th. Morgan Stanley increased their price objective on BlackRock from $785.00 to $828.00 and gave the company an "overweight" rating in a report on Tuesday, January 17th. Credit Suisse Group increased their price objective on BlackRock from $540.00 to $680.00 and gave the company a "neutral" rating in a report on Thursday, January 12th. Finally, The Goldman Sachs Group increased their price objective on BlackRock from $741.00 to $825.00 and gave the company a "buy" rating in a report on Wednesday, January 4th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $738.80.
About BlackRock
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BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.
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