Key Points
- CFO Martin Small sold 1,258 BlackRock shares on Dec. 1 at an average price of $1,043.38, totaling about $1.31 million and reducing his stake by 16.85% to 6,209 shares (SEC Form 4 filed).
- BlackRock declared a quarterly dividend of $5.21 per share, payable Dec. 23 to shareholders of record on Dec. 5, equivalent to a $20.84 annualized payout and roughly a 1.9% yield.
- BlackRock reported Q3 EPS of $11.55 (slightly below estimates) while revenue of $6.51 billion topped expectations; analysts remain largely positive with a consensus "Moderate Buy" rating and an average target near $1,302.59.
BlackRock (NYSE:BLK - Get Free Report) CFO Martin Small sold 1,258 shares of the business's stock in a transaction on Monday, December 1st. The stock was sold at an average price of $1,043.38, for a total transaction of $1,312,572.04. Following the transaction, the chief financial officer directly owned 6,209 shares of the company's stock, valued at approximately $6,478,346.42. This represents a 16.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
BlackRock Trading Up 4.0%
Shares of BLK opened at $1,080.14 on Thursday. The stock's 50-day moving average price is $1,103.17 and its 200 day moving average price is $1,083.33. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $167.58 billion, a price-to-earnings ratio of 27.77, a P/E/G ratio of 1.56 and a beta of 1.47. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,219.94.
BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts' consensus estimates of $11.78 by ($0.23). The company had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.22 billion. BlackRock had a return on equity of 14.80% and a net margin of 26.64%.The firm's revenue for the quarter was up 25.2% on a year-over-year basis. During the same period last year, the firm earned $11.46 earnings per share. As a group, research analysts predict that BlackRock will post 47.41 earnings per share for the current year.
BlackRock Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Friday, December 5th will be issued a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, December 5th. BlackRock's dividend payout ratio is 53.59%.
Institutional Trading of BlackRock
Several institutional investors have recently modified their holdings of the stock. Pacifica Partners Inc. raised its position in shares of BlackRock by 450.0% in the third quarter. Pacifica Partners Inc. now owns 22 shares of the asset manager's stock valued at $25,000 after buying an additional 18 shares during the last quarter. TruNorth Capital Management LLC increased its stake in shares of BlackRock by 1,000.0% in the 3rd quarter. TruNorth Capital Management LLC now owns 22 shares of the asset manager's stock worth $26,000 after acquiring an additional 20 shares during the last quarter. Game Plan Financial Advisors LLC raised its holdings in shares of BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock worth $28,000 after acquiring an additional 15 shares during the period. Garde Capital Inc. boosted its position in shares of BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock valued at $28,000 after acquiring an additional 18 shares during the last quarter. Finally, Traub Capital Management LLC purchased a new stake in shares of BlackRock in the second quarter valued at about $28,000. Institutional investors and hedge funds own 80.69% of the company's stock.
Wall Street Analysts Forecast Growth
BLK has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price objective on shares of BlackRock from $1,196.00 to $1,325.00 and gave the stock a "buy" rating in a report on Tuesday, October 7th. BMO Capital Markets boosted their target price on shares of BlackRock from $1,280.00 to $1,300.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft lowered their price target on BlackRock from $1,312.00 to $1,305.00 and set a "buy" rating for the company in a research report on Friday, November 14th. Cowen reissued a "buy" rating on shares of BlackRock in a report on Wednesday, October 15th. Finally, TD Cowen lifted their target price on BlackRock from $1,301.00 to $1,407.00 and gave the stock a "buy" rating in a report on Wednesday, October 15th. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,302.59.
Get Our Latest Analysis on BLK
About BlackRock
(
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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.
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