Insider Selling: BlackRock, Inc. (BLK) Director Sells 2,500 Shares of Stock

BlackRock, Inc. (NYSE:BLK) Director Jeff A. Smith sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $526.93, for a total transaction of $1,317,325.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Jeff A. Smith also recently made the following trade(s):

  • On Wednesday, February 7th, Jeff A. Smith sold 1,250 shares of BlackRock stock. The stock was sold at an average price of $536.57, for a total transaction of $670,712.50.
  • On Tuesday, January 16th, Jeff A. Smith sold 425 shares of BlackRock stock. The stock was sold at an average price of $565.96, for a total transaction of $240,533.00.

BlackRock, Inc. (BLK) opened at $539.94 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89. BlackRock, Inc. has a 52 week low of $368.00 and a 52 week high of $594.52. The firm has a market capitalization of $83,948.45, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 1.40 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 earnings per share for the quarter, beating the 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 business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period last year, the business earned $5.14 EPS. The business’s revenue was up 20.0% on a year-over-year basis. equities research analysts anticipate that BlackRock, Inc. will post 28.52 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be given a dividend of $2.88 per share. The ex-dividend date is Tuesday, March 6th. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 annualized dividend and a dividend yield of 2.13%. BlackRock’s dividend payout ratio (DPR) is currently 33.00%.

Several institutional investors have recently made changes to their positions in the company. Somerset Trust Co increased its position in shares of BlackRock by 2.7% during the 4th quarter. Somerset Trust Co now owns 3,449 shares of the asset manager’s stock valued at $1,772,000 after purchasing an additional 90 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of BlackRock by 10.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 960 shares of the asset manager’s stock valued at $493,000 after purchasing an additional 93 shares during the last quarter. Naples Global Advisors LLC increased its position in shares of BlackRock by 1.7% during the 4th quarter. Naples Global Advisors LLC now owns 5,495 shares of the asset manager’s stock valued at $2,823,000 after purchasing an additional 93 shares during the last quarter. Lau Associates LLC increased its position in shares of BlackRock by 10.3% during the 4th quarter. Lau Associates LLC now owns 1,026 shares of the asset manager’s stock valued at $527,000 after purchasing an additional 96 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of BlackRock by 57.1% during the 4th quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock valued at $143,000 after purchasing an additional 101 shares during the last quarter. 83.15% of the stock is owned by hedge funds and other institutional investors.

BLK has been the subject of several recent analyst reports. Citigroup downgraded shares of BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 price objective for the company. in a research report on Thursday, January 25th. Argus reaffirmed a “buy” rating and set a $620.00 price objective (up previously from $520.00) on shares of BlackRock in a research report on Tuesday, January 16th. Credit Suisse Group reaffirmed a “buy” rating and set a $680.00 price objective on shares of BlackRock in a research report on Friday, January 12th. Zacks Investment Research cut BlackRock from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Finally, Wells Fargo & Co reiterated a “market perform” rating and issued a $555.00 target price (up from $535.00) on shares of BlackRock in a report on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $547.92.

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About BlackRock

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.

Insider Buying and Selling by Quarter for BlackRock (NYSE:BLK)

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