Insider Selling: BlackRock, Inc. (BLK) Insider Sells 2,000 Shares of Stock
BlackRock, Inc. (NYSE:BLK) insider Mark Mccombe sold 2,000 shares of BlackRock stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $520.64, for a total value of $1,041,280.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
BlackRock, Inc. (BLK) opened at $521.27 on Wednesday. BlackRock, Inc. has a twelve month low of $368.00 and a twelve month high of $594.52. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $84,610.35, a PE ratio of 17.20, a PEG ratio of 1.41 and a beta of 1.76.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.94 by $0.30. BlackRock had a return on equity of 12.54% and a net margin of 39.79%. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the previous year, the firm earned $5.14 earnings per share. BlackRock’s revenue was up 20.0% on a year-over-year basis. research analysts forecast that BlackRock, Inc. will post 28.52 EPS for the current fiscal year.
A number of research firms have weighed in on BLK. Citigroup lowered BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 target price for the company. in a report on Thursday, January 25th. Argus reaffirmed a “buy” rating and set a $620.00 target price (up previously from $520.00) on shares of BlackRock in a report on Tuesday, January 16th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $555.00 target price (up previously from $535.00) on shares of BlackRock in a report on Tuesday, January 16th. Jefferies Group lifted their target price on BlackRock to $565.00 and gave the company a “hold” rating in a report on Monday, January 15th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $680.00 target price on shares of BlackRock in a report on Friday, January 12th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $547.92.
Hedge funds and other institutional investors have recently modified their holdings of the company. Aperio Group LLC grew its holdings in shares of BlackRock by 8.6% during the third quarter. Aperio Group LLC now owns 68,737 shares of the asset manager’s stock worth $30,732,000 after purchasing an additional 5,451 shares in the last quarter. Honkamp Krueger Financial Services Inc. bought a new stake in BlackRock in the 3rd quarter worth approximately $222,000. Berkshire Asset Management LLC PA lifted its position in BlackRock by 33.0% in the 4th quarter. Berkshire Asset Management LLC PA now owns 899 shares of the asset manager’s stock worth $462,000 after buying an additional 223 shares during the last quarter. WFG Advisors LP lifted its position in BlackRock by 66.6% in the 2nd quarter. WFG Advisors LP now owns 1,096 shares of the asset manager’s stock worth $463,000 after buying an additional 438 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in BlackRock by 9.7% in the 3rd quarter. New York State Common Retirement Fund now owns 357,800 shares of the asset manager’s stock worth $159,969,000 after buying an additional 31,600 shares during the last quarter. 83.15% of the stock is owned by institutional investors.
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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