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BlackRock, Inc. (NYSE:BLK) Director Sells $294,941.40 in Stock

Financial News Live ·  Feb 3, 2023 20:01

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

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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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