BlackRock, Inc. (NYSE:BLK) Director Mark Wiedman Sells 12,000 Shares

BlackRock, Inc. (NYSE:BLK) Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mark Wiedman also recently made the following trade(s):

• On Thursday, August 15th, Mark Wiedman sold 12,000 shares of BlackRock stock. The stock was sold at an average price of $875.03, for a total value of $10,500,360.00.
• On Monday, August 12th, Mark Wiedman sold 11,061 shares of BlackRock stock. The shares were sold at an average price of $852.95, for a total value of $9,434,479.95.
• On Tuesday, July 16th, Mark Wiedman sold 27,000 shares of BlackRock stock. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00.

BlackRock Trading Up 0.8 %

Shares of BLK stock opened at $902.30 on Friday. The firm has a 50-day moving average price of $836.92 and a 200 day moving average price of $807.82. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $903.46. The company has a market capitalization of $134.08 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 1.92 and a beta of 1.32. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35.

BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.53%. The firm had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the company posted $9.28 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Research analysts forecast that BlackRock, Inc. will post 41.23 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently weighed in on BLK. UBS Group lowered their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Argus upped their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods upped their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Evercore ISI raised their price target on BlackRock from $910.00 to $920.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Finally, TD Cowen lowered their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $881.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Carolinas Wealth Consulting LLC increased its stake in shares of BlackRock by 25.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after acquiring an additional 40 shares during the last quarter. Zhang Financial LLC increased its position in BlackRock by 24.0% during the 1st quarter. Zhang Financial LLC now owns 883 shares of the asset manager’s stock worth $736,000 after purchasing an additional 171 shares in the last quarter. California State Teachers Retirement System increased its position in BlackRock by 0.7% during the 4th quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock worth $192,997,000 after purchasing an additional 1,647 shares in the last quarter. Farrow Financial Inc. acquired a new stake in BlackRock during the 4th quarter worth approximately $2,228,000. Finally, Axxcess Wealth Management LLC increased its position in BlackRock by 35.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after purchasing an additional 1,248 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

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.