Traders sold shares of BlackRock (NYSE:BLK) on strength during trading on Tuesday. $176.00 million flowed into the stock on the tick-up and $217.05 million flowed out of the stock on the tick-down, for a money net flow of $41.05 million out of the stock. Of all equities tracked, BlackRock had the 30th highest net out-flow for the day. BlackRock traded up $1.99 for the day and closed at $526.84
Several equities research analysts have recently weighed in on BLK shares. Deutsche Bank decreased their target price on BlackRock to $623.00 and set a “buy” rating for the company in a research note on Tuesday, March 6th. Credit Suisse Group reaffirmed a “buy” rating and set a $680.00 target price on shares of BlackRock in a research note on Friday, January 12th. Argus reaffirmed a “buy” rating and set a $620.00 target price (up previously from $520.00) on shares of BlackRock in a research note on Tuesday, January 16th. Citigroup raised their target price on BlackRock to $625.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Finally, Jefferies Group raised their target price on BlackRock to $565.00 and gave the stock a “hold” rating in a research note on Monday, January 15th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $566.62.
The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 0.93. The firm has a market cap of $84,339.99, a price-to-earnings ratio of 23.31, a P/E/G ratio of 1.58 and a beta of 1.67.
In other news, Director Deryck C. Maughan bought 3,861 shares of the firm’s stock in a transaction on Wednesday, January 17th. The stock was acquired at an average cost of $573.44 per share, with a total value of $2,214,051.84. Following the completion of the transaction, the director now directly owns 12,265 shares of the company’s stock, valued at approximately $7,033,241.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Robert L. Goldstein sold 5,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $558.00, for a total value of $2,790,000.00. The disclosure for this sale can be found here. Insiders have sold 20,536 shares of company stock worth $11,134,911 over the last quarter. 1.86% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Assetmark Inc. grew its position in shares of BlackRock by 57.1% in the fourth quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock valued at $143,000 after purchasing an additional 101 shares in the last quarter. Oakworth Capital Inc. grew its position in shares of BlackRock by 67.6% in the fourth quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock valued at $153,000 after purchasing an additional 123 shares in the last quarter. Pin Oak Investment Advisors Inc. purchased a new position in shares of BlackRock in the fourth quarter valued at $181,000. Advantage Investment Management LLC grew its position in shares of BlackRock by 54.9% in the fourth quarter. Advantage Investment Management LLC now owns 367 shares of the asset manager’s stock valued at $189,000 after purchasing an additional 130 shares in the last quarter. Finally, BTIM Corp. purchased a new position in shares of BlackRock in the fourth quarter valued at $201,000. 84.77% of the stock is owned by institutional investors and hedge funds.
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.
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