Investors Sell Shares of BlackRock (BLK) on Strength (BLK)

Investors sold shares of BlackRock, Inc. (NYSE:BLK) on strength during trading on Friday. $45.88 million flowed into the stock on the tick-up and $87.20 million flowed out of the stock on the tick-down, for a money net flow of $41.32 million out of the stock. Of all equities tracked, BlackRock had the 33rd highest net out-flow for the day. BlackRock traded up $3.08 for the day and closed at $515.49

A number of equities analysts have commented on the stock. Zacks Investment Research lowered shares of BlackRock from a “buy” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company restated a “market perform” rating and issued a $475.00 price target (up from $450.00) on shares of BlackRock in a research report on Thursday, October 12th. J P Morgan Chase & Co upped their target price on shares of BlackRock to $558.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research report on Thursday, October 12th. Finally, Jefferies Group reiterated a “hold” rating and set a $465.00 target price on shares of BlackRock in a research report on Thursday, October 12th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $489.08.

The company has a market capitalization of $82,160.00, a PE ratio of 23.75, a PEG ratio of 1.78 and a beta of 1.80. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89.

BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.49 by $0.43. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the business earned $5.14 earnings per share. BlackRock’s quarterly revenue was up 14.0% on a year-over-year basis. analysts expect that BlackRock, Inc. will post 22.3 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Monday, December 4th will be given a dividend of $2.50 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.94%. BlackRock’s payout ratio is 46.82%.

In related news, insider Mark Mccombe sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $478.99, for a total transaction of $478,990.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan Wagner sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the sale, the director now directly owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,200 shares of company stock valued at $2,599,302. 1.86% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Davis R M Inc. raised its stake in shares of BlackRock by 0.4% during the second quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock worth $238,000 after buying an additional 2 shares during the last quarter. Proficio Capital Partners LLC raised its stake in shares of BlackRock by 1.2% during the second quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock worth $111,000 after buying an additional 3 shares during the last quarter. ZWJ Investment Counsel Inc. increased its stake in BlackRock by 0.4% in the second quarter. ZWJ Investment Counsel Inc. now owns 688 shares of the asset manager’s stock valued at $291,000 after purchasing an additional 3 shares in the last quarter. Wayne Hummer Investments L.L.C. increased its stake in BlackRock by 0.3% in the second quarter. Wayne Hummer Investments L.L.C. now owns 1,059 shares of the asset manager’s stock valued at $447,000 after purchasing an additional 3 shares in the last quarter. Finally, Berkshire Asset Management LLC PA increased its stake in BlackRock by 0.8% in the second quarter. Berkshire Asset Management LLC PA now owns 663 shares of the asset manager’s stock valued at $280,000 after purchasing an additional 5 shares in the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

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About BlackRock

BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.

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