Investors Sell Shares of BlackRock (BLK) on Strength (BLK)

Investors sold shares of BlackRock, Inc. (NYSE:BLK) on strength during trading hours on Wednesday. $102.30 million flowed into the stock on the tick-up and $145.97 million flowed out of the stock on the tick-down, for a money net flow of $43.67 million out of the stock. Of all equities tracked, BlackRock had the 21st highest net out-flow for the day. BlackRock traded up $6.14 for the day and closed at $480.17

A number of research analysts have recently commented on the company. Citigroup increased their target price on BlackRock from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $491.00 target price for the company in a research report on Tuesday, April 2nd. Barclays increased their target price on BlackRock from $455.00 to $472.00 and gave the company an “overweight” rating in a research report on Tuesday, February 19th. Morgan Stanley set a $515.00 target price on BlackRock and gave the company a “buy” rating in a research report on Friday, February 8th. Finally, Argus reiterated a “buy” rating on shares of BlackRock in a research report on Thursday, January 17th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $509.38.

The stock has a market capitalization of $75.51 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.68 and a beta of 1.40. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.11 and a quick ratio of 1.11.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, April 16th. The asset manager reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.13 by $0.48. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.30 billion. BlackRock had a return on equity of 13.35% and a net margin of 30.58%. BlackRock’s revenue was down 6.6% on a year-over-year basis. During the same period last year, the company earned $6.48 earnings per share. On average, equities analysts forecast that BlackRock, Inc. will post 27.67 EPS for the current fiscal year.

In related news, CFO Gary Shedlin sold 5,400 shares of the firm’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $410.74, for a total value of $2,217,996.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff A. Smith sold 300 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $468.22, for a total value of $140,466.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,766 shares of company stock valued at $35,788,908. 1.42% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. WESPAC Advisors SoCal LLC bought a new stake in shares of BlackRock during the fourth quarter worth $25,000. Hanson McClain Inc. lifted its position in shares of BlackRock by 425.0% during the fourth quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock worth $25,000 after purchasing an additional 51 shares during the last quarter. Private Ocean LLC lifted its position in shares of BlackRock by 620.0% during the fourth quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock worth $28,000 after purchasing an additional 62 shares during the last quarter. Evolution Wealth Advisors LLC bought a new stake in shares of BlackRock during the fourth quarter worth $33,000. Finally, Highwater Wealth Management LLC bought a new stake in shares of BlackRock during the fourth quarter worth $41,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

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About BlackRock (NYSE:BLK)

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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