BlackRock (NYSE:BLK) Trading Down 1.1%

BlackRock, Inc. (NYSE:BLK) fell 1.1% on Wednesday . The stock traded as low as $784.52 and last traded at $786.01. 57,772 shares were traded during trading, a decline of 90% from the average session volume of 602,281 shares. The stock had previously closed at $794.39.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BLK shares. UBS Group upped their price objective on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Morgan Stanley lifted their price target on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $930.00 price objective (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $845.42.

BlackRock Trading Down 1.0 %

The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32. The stock has a market cap of $116.87 billion, a PE ratio of 20.04, a PEG ratio of 1.64 and a beta of 1.34. The company’s fifty day moving average is $777.24 and its 200-day moving average is $792.54.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.93 earnings per share. On average, analysts predict that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were paid a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend was Friday, June 7th. BlackRock’s dividend payout ratio is currently 51.84%.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the sale, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the transaction, the director now owns 6,480 shares in the company, valued at $5,151,600. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BlackRock

Institutional investors have recently made changes to their positions in the stock. Redmont Wealth Advisors LLC purchased a new position in BlackRock in the 1st quarter valued at approximately $27,000. Tennessee Valley Asset Management Partners purchased a new position in BlackRock in the fourth quarter valued at approximately $27,000. Private Wealth Management Group LLC purchased a new stake in BlackRock during the fourth quarter worth approximately $28,000. Pineridge Advisors LLC acquired a new stake in shares of BlackRock in the fourth quarter worth $28,000. Finally, LFA Lugano Financial Advisors SA lifted its holdings in shares of BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 25 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

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.