Traders sold shares of BlackRock, Inc. (NYSE:BLK) on strength during trading hours on Wednesday. $33.82 million flowed into the stock on the tick-up and $89.81 million flowed out of the stock on the tick-down, for a money net flow of $55.99 million out of the stock. Of all equities tracked, BlackRock had the 0th highest net out-flow for the day. BlackRock traded up $0.05 for the day and closed at $470.50
BLK has been the subject of a number of recent research reports. BidaskClub downgraded BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Barclays PLC upped their price target on BlackRock from $475.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 10th. J P Morgan Chase & Co increased their price objective on BlackRock to $558.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Wells Fargo & Company reissued a “market perform” rating and issued a $475.00 price objective (up previously from $450.00) on shares of BlackRock in a report on Thursday, October 12th. Finally, Credit Suisse Group reissued an “outperform” rating on shares of BlackRock in a report on Tuesday, August 29th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. BlackRock currently has an average rating of “Buy” and an average target price of $489.08.
The stock has a market cap of $76,031.39, a price-to-earnings ratio of 21.83, a PEG ratio of 1.62 and a beta of 1.79. 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 (NYSE:BLK) last announced its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.49 by $0.43. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.10 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the firm posted $5.14 EPS. analysts anticipate that BlackRock, Inc. will post 22.29 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Monday, December 4th will be given a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 2.11%. BlackRock’s payout ratio is 46.82%.
In other BlackRock news, insider Mark Mccombe sold 1,000 shares of the stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $478.99, for a total transaction of $478,990.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director J. Richard Kushel sold 100 shares of the stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $481.58, for a total value of $48,158.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,775 shares of company stock worth $2,053,412 in the last quarter. Company insiders own 1.86% of the company’s stock.
A number of hedge funds have recently bought and sold shares of BLK. Global X Management Co. LLC increased its position in shares of BlackRock by 37.5% in the first quarter. Global X Management Co. LLC now owns 766 shares of the asset manager’s stock worth $294,000 after purchasing an additional 209 shares during the period. Putnam FL Investment Management Co. increased its position in shares of BlackRock by 5.3% in the first quarter. Putnam FL Investment Management Co. now owns 52,186 shares of the asset manager’s stock worth $20,014,000 after purchasing an additional 2,612 shares during the period. Twin Focus Capital Partners LLC increased its position in shares of BlackRock by 18.8% in the first quarter. Twin Focus Capital Partners LLC now owns 2,674 shares of the asset manager’s stock worth $1,026,000 after purchasing an additional 424 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of BlackRock by 0.5% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,012 shares of the asset manager’s stock worth $772,000 after purchasing an additional 10 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of BlackRock by 3.3% in the first quarter. Vanguard Group Inc. now owns 7,794,209 shares of the asset manager’s stock worth $2,989,157,000 after purchasing an additional 250,431 shares during the period. Hedge funds and other institutional investors own 82.42% of the company’s stock.
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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