Traders Sell BlackRock (BLK) on Strength (BLK)
Traders sold shares of BlackRock, Inc. (NYSE:BLK) on strength during trading hours on Monday. $86.64 million flowed into the stock on the tick-up and $113.08 million flowed out of the stock on the tick-down, for a money net flow of $26.44 million out of the stock. Of all companies tracked, BlackRock had the 0th highest net out-flow for the day. BlackRock traded up $11.42 for the day and closed at $513.50
A number of analysts have commented on BLK shares. Jefferies Group reissued a “hold” rating and issued a $440.00 target price on shares of BlackRock in a report on Friday, August 18th. BidaskClub lowered BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Credit Suisse Group reaffirmed an “outperform” rating on shares of BlackRock in a report on Tuesday, August 29th. Barclays began coverage on BlackRock in a report on Friday, September 8th. They issued an “overweight” rating and a $475.00 price objective for the company. Finally, Goldman Sachs Group raised BlackRock from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $440.00 to $500.00 in a report on Thursday, September 28th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $489.08.
The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89. The firm has a market cap of $82,330.48, a price-to-earnings ratio of 23.83, a P/E/G ratio of 1.79 and a beta of 1.81.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.49 by $0.43. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.10 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. BlackRock’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.14 earnings per share. research analysts anticipate that BlackRock, Inc. will post 22.3 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors 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 annualized dividend and a yield of 1.95%. BlackRock’s dividend payout ratio (DPR) is presently 46.82%.
In related news, Director J. Richard Kushel sold 100 shares of BlackRock stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $481.58, for a total transaction of $48,158.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Susan Wagner sold 4,000 shares of BlackRock stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total value of $2,024,400.00. Following the transaction, the director now owns 481,915 shares in the company, valued at $243,897,181.50. The disclosure for this sale can be found here. Insiders have sold 5,200 shares of company stock worth $2,599,302 over the last quarter. 1.86% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AXA lifted its position in shares of BlackRock by 11.0% in the third quarter. AXA now owns 90,952 shares of the asset manager’s stock worth $40,663,000 after buying an additional 8,997 shares in the last quarter. Institutional & Family Asset Management LLC lifted its position in shares of BlackRock by 29.6% in the third quarter. Institutional & Family Asset Management LLC now owns 2,068 shares of the asset manager’s stock worth $925,000 after buying an additional 472 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of BlackRock in the third quarter worth about $1,778,000. Public Employees Retirement System of Ohio lifted its position in shares of BlackRock by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 90,672 shares of the asset manager’s stock worth $40,539,000 after buying an additional 719 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of BlackRock in the third quarter worth about $207,000. Institutional investors own 83.75% of the company’s stock.
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BlackRock Company Profile
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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