Insider Buying: BlackRock, Inc. (BLK) Director Purchases 3,861 Shares of Stock
BlackRock, Inc. (NYSE:BLK) Director Deryck C. Maughan acquired 3,861 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was purchased at an average cost of $573.44 per share, for a total transaction of $2,214,051.84. Following the completion of the purchase, the director now directly owns 12,265 shares in the company, valued at approximately $7,033,241.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
BlackRock, Inc. (NYSE BLK) traded up $10.97 during trading hours on Friday, hitting $590.26. 591,655 shares of the stock were exchanged, compared to its average volume of 511,730. 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 fifty-two week low of $365.83 and a fifty-two week high of $590.56. The firm has a market cap of $94,640.00, a PE ratio of 19.48, a PEG ratio of 1.55 and a beta of 1.81.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.94 by $0.30. The business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the prior year, the company posted $5.14 EPS. analysts forecast that BlackRock, Inc. will post 28.52 EPS for the current year.
A number of equities analysts have recently weighed in on the stock. Jefferies Group reaffirmed a “hold” rating and set a $440.00 price target on shares of BlackRock in a research note on Tuesday, September 26th. Goldman Sachs Group raised shares of BlackRock from a “neutral” rating to a “buy” rating and upped their price target for the stock from $440.00 to $500.00 in a research note on Thursday, September 28th. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price target on the stock in a research note on Tuesday, October 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $501.00 price target (up from $476.00) on shares of BlackRock in a research note on Thursday, October 5th. Finally, Barclays upped their price target on shares of BlackRock from $475.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 10th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $547.92.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Salem Investment Counselors Inc. grew its stake in BlackRock by 14.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock valued at $101,000 after acquiring an additional 30 shares during the last quarter. Invictus RG acquired a new stake in BlackRock in the 3rd quarter valued at about $110,000. Harfst & Associates Inc. grew its stake in BlackRock by 17.3% in the 2nd quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock valued at $111,000 after acquiring an additional 39 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in BlackRock by 133.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 280 shares of the asset manager’s stock valued at $118,000 after acquiring an additional 160 shares during the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. grew its stake in BlackRock by 1,119.2% in the 3rd quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock valued at $141,000 after acquiring an additional 291 shares during the last quarter. 83.55% of the stock is currently owned by hedge funds and other institutional investors.
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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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