BlackRock, Inc. (NYSE:BLK) Director Sells $893,480.00 in Stock

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BlackRock, Inc. (NYSE:BLK) Director J. Richard Kushel sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $446.74, for a total value of $893,480.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shares of NYSE BLK opened at $445.04 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.92 and a quick ratio of 2.92. The stock has a fifty day moving average price of $433.46 and a 200 day moving average price of $447.33. BlackRock, Inc. has a 1-year low of $360.79 and a 1-year high of $487.45. The company has a market cap of $69.66 billion, a PE ratio of 16.53, a P/E/G ratio of 1.56 and a beta of 1.54.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, October 15th. The asset manager reported $7.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $6.95 by $0.20. BlackRock had a return on equity of 13.00% and a net margin of 29.31%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the company earned $7.52 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Analysts anticipate that BlackRock, Inc. will post 27.54 earnings per share for the current fiscal year.

BLK has been the subject of several research analyst reports. UBS Group increased their price objective on BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a report on Monday, July 8th. ValuEngine downgraded BlackRock from a “hold” rating to a “sell” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. decreased their price target on BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Citigroup decreased their price target on BlackRock from $545.00 to $500.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Finally, Credit Suisse Group set a $567.00 price target on BlackRock and gave the stock a “buy” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $498.49.

A number of institutional investors have recently added to or reduced their stakes in the business. Buckingham Capital Management Inc. increased its stake in BlackRock by 1.6% in the 1st quarter. Buckingham Capital Management Inc. now owns 16,412 shares of the asset manager’s stock worth $7,014,000 after buying an additional 259 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in BlackRock by 27.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 280,508 shares of the asset manager’s stock worth $119,883,000 after buying an additional 60,236 shares during the period. Marshall Wace LLP purchased a new position in BlackRock in the 1st quarter worth about $2,700,000. Marshall Wace North America L.P. purchased a new position in BlackRock in the 1st quarter worth about $1,433,000. Finally, Cerebellum GP LLC purchased a new position in BlackRock during the 1st quarter valued at about $318,000. 81.84% of the stock is owned by institutional investors.

BlackRock Company Profile

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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Insider Buying and Selling by Quarter for BlackRock (NYSE:BLK)

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