BlackRock, Inc. (NYSE:BLK – Get Rating) Director Stephen Cohen sold 390 shares of BlackRock stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $756.26, for a total value of $294,941.40. Following the completion of the sale, the director now owns 4,357 shares of the company's stock, valued at $3,295,024.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Stephen Cohen also recently made the following trade(s):
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- On Monday, January 30th, Stephen Cohen sold 1,149 shares of BlackRock stock. The shares were sold at an average price of $753.46, for a total value of $865,725.54.
BlackRock Stock Performance
Shares of BLK traded down $13.57 during mid-day trading on Friday, reaching $757.16. 1,199,477 shares of the company's stock traded hands, compared to its average volume of 783,757. BlackRock, Inc. has a 12 month low of $503.12 and a 12 month high of $824.87. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.03 and a current ratio of 3.03. The stock has a market capitalization of $113.73 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 2.57 and a beta of 1.26. The business's 50-day moving average price is $726.70 and its 200-day moving average price is $679.58.
BlackRock (NYSE:BLK – Get Rating) last posted its quarterly earnings results on Friday, January 13th. The asset manager reported $8.93 EPS for the quarter, beating the consensus estimate of $7.99 by $0.94. The business had revenue of $4.34 billion for the quarter, compared to analysts' expectations of $4.16 billion. BlackRock had a net
margin of 28.97% and a return on equity of 14.43%. Equities analysts predict that BlackRock, Inc. will post 34.53 earnings per share for the current year.
BlackRock Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Tuesday, March 7th will be given a dividend of $5.00 per share. This is a positive change from BlackRock's previous quarterly dividend of $4.88. The ex-dividend date is Monday, March 6th. This represents a $20.00 dividend on an annualized basis and a yield of 2.64%. BlackRock's payout ratio is currently 57.50%.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on BLK. Wells Fargo & Company began coverage on BlackRock in a research note on Wednesday, December 14th. They issued an "overweight" rating and a $820.00 price objective on the stock. UBS Group downgraded BlackRock from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $700.00 to $585.00 in a research note on Tuesday, October 11th. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $642.00 to $846.00 and gave the stock a "buy" rating in a research report on Tuesday, November 15th. Credit Suisse Group raised their target price on BlackRock from $540.00 to $680.00 and gave the company a "neutral" rating in a research report on Thursday, January 12th. Finally, BMO Capital Markets cut their target price on BlackRock from $495.00 to $481.00 and set a "market perform" rating for the company in a research note on Friday, October 14th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $738.80.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. Sendero Wealth Management LLC acquired a new stake in shares of BlackRock during the second quarter worth $373,000. Horan Securities Inc. grew its position in shares of BlackRock by 72.7% in the 4th quarter. Horan Securities Inc. now owns 38 shares of the asset manager's stock valued at $27,000 after acquiring an additional 16 shares during the period. Wagner Wealth Management LLC bought a new position in shares of BlackRock in the 2nd quarter valued at about $25,000. HBC Financial Services PLLC lifted its stake in shares of BlackRock by 55.6% during the 4th quarter. HBC Financial Services PLLC now owns 42 shares of the asset manager's stock worth $30,000 after buying an additional 15 shares during the last quarter. Finally, Salem Investment Counselors Inc. raised its position in shares of BlackRock by 275.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 45 shares of the asset manager's stock valued at $25,000 after buying an additional 33 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company's stock.
About BlackRock
(Get Rating)
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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