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.
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.
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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