Insider Selling: BlackRock, Inc. (NYSE:BLK) Insider Sells 300 Shares of Stock

BlackRock, Inc. (NYSE:BLK) insider Jeff A. Smith sold 300 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $468.22, for a total transaction of $140,466.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Jeff A. Smith also recently made the following trade(s):

  • On Monday, April 29th, Jeff A. Smith sold 75 shares of BlackRock stock. The stock was sold at an average price of $479.40, for a total transaction of $35,955.00.
  • On Thursday, April 25th, Jeff A. Smith sold 150 shares of BlackRock stock. The stock was sold at an average price of $478.29, for a total transaction of $71,743.50.
  • On Friday, February 15th, Jeff A. Smith sold 225 shares of BlackRock stock. The stock was sold at an average price of $431.01, for a total transaction of $96,977.25.
  • On Tuesday, February 5th, Jeff A. Smith sold 2,250 shares of BlackRock stock. The stock was sold at an average price of $415.78, for a total transaction of $935,505.00.

Shares of BLK opened at $464.22 on Friday. The stock has a market capitalization of $74.84 billion, a P/E ratio of 17.24, a P/E/G ratio of 1.74 and a beta of 1.44. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.11 and a quick ratio of 1.11. BlackRock, Inc. has a 52-week low of $360.79 and a 52-week high of $557.00.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, April 16th. The asset manager reported $6.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $6.13 by $0.48. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.30 billion. BlackRock had a net margin of 30.58% and a return on equity of 13.35%. BlackRock’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.48 EPS. Equities research analysts expect that BlackRock, Inc. will post 27.67 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Destination Wealth Management boosted its position in shares of BlackRock by 1.7% during the 1st quarter. Destination Wealth Management now owns 1,253 shares of the asset manager’s stock valued at $535,000 after purchasing an additional 21 shares in the last quarter. Winslow Evans & Crocker Inc. boosted its position in shares of BlackRock by 11.6% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 212 shares of the asset manager’s stock valued at $94,000 after purchasing an additional 22 shares in the last quarter. Somerset Trust Co boosted its position in shares of BlackRock by 0.6% during the 1st quarter. Somerset Trust Co now owns 3,678 shares of the asset manager’s stock valued at $1,572,000 after purchasing an additional 23 shares in the last quarter. SlateStone Wealth LLC boosted its position in shares of BlackRock by 0.6% during the 1st quarter. SlateStone Wealth LLC now owns 4,167 shares of the asset manager’s stock valued at $1,781,000 after purchasing an additional 23 shares in the last quarter. Finally, First Manhattan Co. boosted its position in shares of BlackRock by 3.5% during the 1st quarter. First Manhattan Co. now owns 707 shares of the asset manager’s stock valued at $302,000 after purchasing an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Several equities analysts have recently commented on the stock. Citigroup upped their price target on shares of BlackRock from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $491.00 price target for the company in a research report on Tuesday, April 2nd. Barclays upped their price target on shares of BlackRock from $455.00 to $472.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 19th. Morgan Stanley set a $515.00 price target on shares of BlackRock and gave the stock a “buy” rating in a research report on Friday, February 8th. Finally, Argus restated a “buy” rating on shares of BlackRock in a research report on Thursday, January 17th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. BlackRock presently has a consensus rating of “Buy” and an average price target of $509.38.

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About BlackRock

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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