Laurence Fink sells 29,450 shares of BlackRock, Inc. (NYSE:BLK)

The CEO of BlackRock, Inc. (NYSE:BLK – Get Your Free Report ) Laurence Fink sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink.

Laurence Fink also recently made the following trades:

• On Monday, May 20th, Laurence Fink sold 30,978 shares of BlackRock stock. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62.

BlackRock Price Performance

Shares of BlackRock stock opened at $856.22 on Friday. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $885.10. The stock’s 50-day moving average is $810.38 and its 200-day moving average is $799.76. The company has a current ratio of 5.32, a quick ratio of 5.32, and a debt-to-equity ratio of 0.35. The company has a market cap of $127.23 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 1.92 and a beta of 1.32.

BlackRock (NYSE:BLK – Get Your Free Report ) last released its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping 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 company had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. In the same period last year, the firm earned $9.28 per share. The company’s revenue was up 7.7% compared to the same quarter last year. Equities research analysts expect that BlackRock, Inc. to record 41.23 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be issued a $5.10 dividend. This represents a dividend of $20.40 on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Monday, September 9. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

BlackRock Institutional Trading

Large investors have recently modified their holdings of the company. Tennessee Valley Asset Management Partners purchased a new position in BlackRock in the fourth quarter valued at $27,000. Redmont Wealth Advisors LLC acquired a new stake in BlackRock in the 1st quarter worth approximately $27,000. Private Wealth Management Group LLC acquired a new stake in BlackRock in the fourth quarter valued at $28,000. Pineridge Advisors LLC bought a new stake in shares of BlackRock in the 4th quarter valued at about $28,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in BlackRock in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 80.69% of the company’s shares.

Analyst upgrades and downgrades

A number of research firms recently weighed in on BLK. TD Cowen decreased their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Argus upped their target price on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft reduced their target price on BlackRock from $924.00 to $912.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Keefe, Bruyette & Woods boosted their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley cut their price target on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. BlackRock has a consensus rating of “Moderate Buy” and an average price target of $872.29, according to MarketBeat.

Check out our latest report on BLK

BlackRock Company Profile

(Get a free report)

BlackRock, Inc is a public equity investment manager. The firm primarily serves 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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