Investors Sell BlackRock (BLK) on Strength (BLK)

Investors 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 24th highest net out-flow for the day. BlackRock traded up $11.42 for the day and closed at $513.50

Several equities analysts have issued reports on BLK shares. BidaskClub cut shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Barclays increased their price objective on shares of BlackRock from $475.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 10th. J P Morgan Chase & Co increased their price objective on shares of BlackRock to $558.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. Wells Fargo & Company reiterated a “market perform” rating and issued a $475.00 price objective (up previously from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. BlackRock currently has a consensus rating of “Buy” and an average price target 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 $80,499.49, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 1.75 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 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.49 by $0.43. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the business earned $5.14 EPS. The business’s quarterly revenue was up 14.0% on a year-over-year basis. equities analysts expect that BlackRock, Inc. will post 22.29 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Monday, December 4th will be issued a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, December 1st. BlackRock’s dividend payout ratio is 46.82%.

In related news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $2,024,400.00. Following the completion of the sale, the director now directly owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The disclosure for this sale can be found here. Insiders sold a total of 8,875 shares of company stock valued at $4,125,566 over the last three months. 1.86% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Davis R M Inc. increased its holdings in BlackRock by 0.4% in the 2nd quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock worth $238,000 after acquiring an additional 2 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in BlackRock by 1.2% during the 2nd quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock valued at $111,000 after buying an additional 3 shares in the last quarter. ZWJ Investment Counsel Inc. grew its holdings in BlackRock by 0.4% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 688 shares of the asset manager’s stock valued at $291,000 after buying an additional 3 shares in the last quarter. Wayne Hummer Investments L.L.C. grew its holdings in BlackRock by 0.3% during the 2nd quarter. Wayne Hummer Investments L.L.C. now owns 1,059 shares of the asset manager’s stock valued at $447,000 after buying an additional 3 shares in the last quarter. Finally, Berkshire Asset Management LLC PA grew its holdings in BlackRock by 0.8% during the 2nd quarter. Berkshire Asset Management LLC PA now owns 663 shares of the asset manager’s stock valued at $280,000 after buying an additional 5 shares in the last quarter. 83.75% of the stock is owned by institutional investors.

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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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