BlackRock, Inc. (BLK) Insider Jeff A. Smith Sells 250 Shares
BlackRock, Inc. (NYSE:BLK) insider Jeff A. Smith sold 250 shares of BlackRock stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Jeff A. Smith also recently made the following trade(s):
- On Tuesday, July 18th, Jeff A. Smith sold 522 shares of BlackRock stock. The shares were sold at an average price of $421.52, for a total transaction of $220,033.44.
Shares of BlackRock, Inc. (BLK) opened at 426.51 on Monday. The stock has a market capitalization of $69.18 billion, a price-to-earnings ratio of 20.47 and a beta of 1.71. The stock’s 50 day moving average is $427.11 and its 200-day moving average is $397.31. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.83.
BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the Zacks’ consensus estimate of $5.39 by $0.15. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.79%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the business earned $4.78 earnings per share. On average, equities research analysts predict that BlackRock, Inc. will post $21.84 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be given a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is 47.98%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC increased its position in BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after buying an additional 85 shares during the period. Enterprise Financial Services Corp increased its position in BlackRock by 52.5% in the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after buying an additional 85 shares during the period. Kings Point Capital Management increased its position in BlackRock by 34.5% in the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after buying an additional 70 shares during the period. State of Alaska Department of Revenue bought a new position in BlackRock during the first quarter worth approximately $108,000. Finally, Peoples Financial Services CORP. bought a new position in BlackRock during the first quarter worth approximately $115,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on BLK. Keefe, Bruyette & Woods reissued a “hold” rating and set a $440.00 price objective on shares of BlackRock in a report on Friday, July 14th. Morgan Stanley reissued an “overweight” rating and set a $460.00 price objective (up from $422.00) on shares of BlackRock in a report on Monday, July 10th. Wells Fargo & Company reissued a “market perform” rating and set a $425.00 price objective (up from $380.00) on shares of BlackRock in a report on Wednesday, July 12th. Deutsche Bank AG lifted their price objective on shares of BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a report on Tuesday, July 4th. Finally, Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price objective on the stock in a report on Tuesday, June 20th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. BlackRock has an average rating of “Buy” and a consensus price target of $434.93.
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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