Investors sold shares of BlackRock, Inc. (NYSE:BLK) on strength during trading hours on Friday. $105.70 million flowed into the stock on the tick-up and $165.07 million flowed out of the stock on the tick-down, for a money net flow of $59.37 million out of the stock. Of all companies tracked, BlackRock had the 0th highest net out-flow for the day. BlackRock traded up $23.79 for the day and closed at $577.18
BLK has been the subject of several research reports. Deutsche Bank decreased their price target on shares of BlackRock to $623.00 and set a “buy” rating for the company in a report on Tuesday, March 6th. Credit Suisse Group reaffirmed a “buy” rating and issued a $680.00 price target on shares of BlackRock in a report on Friday, January 12th. Argus reaffirmed a “buy” rating and issued a $620.00 price target (up from $520.00) on shares of BlackRock in a report on Tuesday, January 16th. Citigroup lifted their price objective on shares of BlackRock to $625.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. Finally, ValuEngine downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $560.85.
The firm has a market cap of $92,763.22, a PE ratio of 19.05, a price-to-earnings-growth ratio of 1.55 and a beta of 1.71. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.94 and a current ratio of 2.94.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th will be given a dividend of $2.88 per share. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.00%. This is an increase from BlackRock’s previous quarterly dividend of $2.50. The ex-dividend date is Tuesday, March 6th. BlackRock’s payout ratio is 38.02%.
In other BlackRock news, Director Ryan Stork sold 7,136 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $543.50, for a total transaction of $3,878,416.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Robert L. Goldstein sold 5,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $558.00, for a total transaction of $2,790,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,961 shares of company stock worth $11,375,444 over the last 90 days. 1.86% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in BLK. Invictus RG bought a new stake in shares of BlackRock during the 3rd quarter worth about $110,000. Sumitomo Mitsui Financial Group Inc. raised its position in shares of BlackRock by 1,119.2% during the 3rd quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock worth $141,000 after buying an additional 291 shares in the last quarter. Assetmark Inc. raised 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 worth $143,000 after buying an additional 101 shares in the last quarter. Oakworth Capital Inc. raised its position in shares of BlackRock by 67.6% during the 4th quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock worth $153,000 after buying an additional 123 shares in the last quarter. Finally, Manchester Capital Management LLC bought a new stake in shares of BlackRock during the 3rd quarter worth about $156,000. Institutional investors own 82.90% 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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