BlackRock (NYSE:BLK) Stock Price Up 1.4%

BlackRock, Inc. (NYSE:BLK)’s stock price rose 1.4% during trading on Monday . The stock traded as high as $798.99 and last traded at $798.99. Approximately 60,962 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 604,657 shares. The stock had previously closed at $787.60.

Analyst Upgrades and Downgrades

BLK has been the topic of several analyst reports. Morgan Stanley raised their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $930.00 price target (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, UBS Group raised their price objective on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock Stock Down 0.9 %

The stock has a market capitalization of $117.02 billion, a P/E ratio of 20.01, a PEG ratio of 1.64 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32. The stock’s fifty day moving average is $777.24 and its two-hundred day moving average is $792.54.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the business posted $7.93 EPS. The company’s revenue was up 11.4% on a year-over-year basis. As a group, research analysts predict that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were paid a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Friday, June 7th. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,151,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,151,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Institutional Trading of BlackRock

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Redmont Wealth Advisors LLC acquired a new stake in BlackRock in the 1st quarter worth $27,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of BlackRock during the 4th quarter valued at about $27,000. Private Wealth Management Group LLC acquired a new stake in shares of BlackRock during the 4th quarter valued at about $28,000. Pineridge Advisors LLC acquired a new stake in shares of BlackRock during the 4th quarter valued at about $28,000. Finally, LFA Lugano Financial Advisors SA boosted its position in shares of BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 25 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Company Profile

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.