BlackRock (NYSE:BLK) Hits New 1-Year High at $905.84

Shares of BlackRock, Inc. (NYSE:BLK) hit a new 52-week high during trading on Tuesday . The stock traded as high as $905.84 and last traded at $905.84, with a volume of 110329 shares changing hands. The stock had previously closed at $895.18.

Analysts Set New Price Targets

Several research firms have recently weighed in on BLK. Wells Fargo & Company began coverage on BlackRock in a research report on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 price objective for the company. Morgan Stanley cut their price target on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. TD Cowen reduced their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday, July 8th. Finally, Barclays upped their price objective on shares of BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and an average target price of $902.13.

BlackRock Stock Up 1.0 %

The stock’s fifty day moving average is $860.07 and its two-hundred day moving average is $815.10. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a market cap of $134.41 billion, a P/E ratio of 23.02, a price-to-earnings-growth ratio of 1.92 and a beta of 1.30.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter last year, the business posted $9.28 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, research analysts anticipate that BlackRock, Inc. will post 41.34 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be issued a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s payout ratio is 51.84%.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 27,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Mark Wiedman sold 27,000 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock worth $79,387,117 over the last three months. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On BlackRock

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLK. Redmont Wealth Advisors LLC bought a new position in BlackRock in the 1st quarter worth $27,000. Pineridge Advisors LLC purchased a new stake in BlackRock in the fourth quarter worth about $28,000. Fairscale Capital LLC bought a new stake in BlackRock during the 2nd quarter valued at approximately $31,000. Lam Group Inc. purchased a new position in shares of BlackRock during the 1st quarter worth approximately $33,000. Finally, Fairman Group LLC bought a new position in shares of BlackRock in the 4th quarter worth approximately $35,000. 80.69% of the stock is currently owned by institutional investors.

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.