Stock Traders Buy Large Volume of BlackRock Call Options (BLK)

BlackRock, Inc. (NYSE:BLK) saw some unusual options trading on Thursday. Stock traders bought 13,675 call options on the stock. This is an increase of approximately 1,902% compared to the typical volume of 683 call options.

BlackRock (BLK) opened at $502.08 on Friday. 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 firm has a market capitalization of $80,500.00, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 1.74 and a beta of 1.79. BlackRock has a 12-month low of $365.83 and a 12-month high of $509.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, topping the consensus estimate of $5.49 by $0.43. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.10 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the business earned $5.14 EPS. sell-side analysts forecast that BlackRock will post 22.29 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Monday, December 4th will be given a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, December 1st. BlackRock’s payout ratio is 46.82%.

Several equities research analysts have issued reports on BLK shares. Goldman Sachs Group raised BlackRock from a “neutral” rating to a “buy” rating and raised their price target for the company from $440.00 to $500.00 in a report on Thursday, September 28th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $475.00 price target (up previously from $450.00) on shares of BlackRock in a report on Thursday, October 12th. Barclays started coverage on BlackRock in a report on Friday, September 8th. They set an “overweight” rating and a $475.00 price target for the company. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price target for the company in a report on Tuesday, October 3rd. Finally, Jefferies Group reaffirmed a “hold” rating and set a $440.00 price target on shares of BlackRock in a report on Tuesday, September 26th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. BlackRock currently has an average rating of “Buy” and an average price target of $489.08.

In other news, Director Susan Wagner sold 4,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $506.10, for a total value of $2,024,400.00. Following the completion of the sale, the director now owns 481,915 shares of the company’s stock, valued at approximately $243,897,181.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total value of $1,526,264.25. The disclosure for this sale can be found here. In the last three months, insiders sold 8,875 shares of company stock valued at $4,125,566. 1.86% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Aperio Group LLC increased its position in BlackRock by 8.6% during the 3rd quarter. Aperio Group LLC now owns 68,737 shares of the asset manager’s stock worth $30,732,000 after buying an additional 5,451 shares during the period. Everett Harris & Co. CA increased its position in shares of BlackRock by 9.2% in the second quarter. Everett Harris & Co. CA now owns 100,143 shares of the asset manager’s stock worth $42,301,000 after purchasing an additional 8,478 shares during the period. Canada Pension Plan Investment Board increased its position in shares of BlackRock by 48.9% in the second quarter. Canada Pension Plan Investment Board now owns 101,703 shares of the asset manager’s stock worth $42,960,000 after purchasing an additional 33,400 shares during the period. Honkamp Krueger Financial Services Inc. bought a new position in shares of BlackRock in the third quarter worth $222,000. Finally, Blue Chip Partners Inc. increased its position in shares of BlackRock by 8.5% in the second quarter. Blue Chip Partners Inc. now owns 13,440 shares of the asset manager’s stock worth $5,677,000 after purchasing an additional 1,055 shares during the period. Hedge funds and other institutional investors own 83.76% 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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