December 4, 2022

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BlackRock, Inc. (NYSE:BLKGet Rating) CEO Laurence Fink sold 40,960 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $732.25, for a total value of $29,992,960.00. Following the transaction, the chief executive officer now owns 508,211 shares of the company’s stock, valued at approximately $372,137,504.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Laurence Fink also recently made the following trade(s):

  • On Tuesday, November 8th, Laurence Fink sold 14,600 shares of BlackRock stock. The shares were sold at an average price of $685.58, for a total value of $10,009,468.00.

BlackRock Stock Up 0.4 %

Shares of BLK stock traded up $2.87 during trading hours on Wednesday, reaching $736.32. 488,794 shares of the company’s stock were exchanged, compared to its average volume of 859,193. The stock’s 50 day moving average is $628.27 and its 200-day moving average is $641.83. The company has a market cap of $110.59 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 3.80 and a beta of 1.29. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 0.33. BlackRock, Inc. has a fifty-two week low of $503.12 and a fifty-two week high of $939.41.
BlackRock (NYSE:BLKGet Rating) last issued its quarterly earnings results on Thursday, October 13th. The asset manager reported $9.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.73 by $1.82. The business had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.17 billion. BlackRock had a return on equity of 15.07% and a net margin of 29.84%. The business’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the prior year, the firm posted $10.95 earnings per share. Analysts predict that BlackRock, Inc. will post 33.88 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Wednesday, December 7th will be issued a $4.88 dividend. This represents a $19.52 annualized dividend and a yield of 2.65%. The ex-dividend date is Tuesday, December 6th. BlackRock’s payout ratio is 53.79%.

Institutional Investors Weigh In On BlackRock

Hedge funds have recently added to or reduced their stakes in the business. Nvwm LLC boosted its holdings in BlackRock by 26.4% in the first quarter. Nvwm LLC now owns 115 shares of the asset manager’s stock valued at $88,000 after purchasing an additional 24 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of BlackRock by 6.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 22,542 shares of the asset manager’s stock worth $13,728,000 after acquiring an additional 1,440 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of BlackRock by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 384,792 shares of the asset manager’s stock worth $294,074,000 after acquiring an additional 5,783 shares in the last quarter. Foster Victor Wealth Advisors LLC boosted its stake in shares of BlackRock by 7.2% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 12,119 shares of the asset manager’s stock worth $7,450,000 after acquiring an additional 814 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its stake in shares of BlackRock by 20.2% during the 2nd quarter. Hexagon Capital Partners LLC now owns 292 shares of the asset manager’s stock worth $178,000 after acquiring an additional 49 shares in the last quarter. 76.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BLK has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $642.00 to $846.00 and gave the company a “buy” rating in a report on Tuesday, November 15th. BMO Capital Markets lowered their price target on BlackRock from $495.00 to $481.00 and set a “market perform” rating for the company in a report on Friday, October 14th. Credit Suisse Group initiated coverage on BlackRock in a report on Tuesday, October 18th. They issued a “neutral” rating and a $540.00 price target for the company. UBS Group lowered BlackRock from a “buy” rating to a “neutral” rating and lowered their price target for the company from $700.00 to $585.00 in a report on Tuesday, October 11th. Finally, Evercore ISI lowered their price target on BlackRock to $640.00 in a report on Thursday, October 20th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $703.92.

BlackRock Company Profile

(Get Rating)
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.

See Also

Insider Buying and Selling by Quarter for BlackRock (NYSE:BLK)


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