BlackRock (NYSE:BLK) Sets New 52-Week High at $905.84

BlackRock, Inc. (NYSE:BLK) shares hit a new 52-week high on Tuesday . The stock traded as high as $905.84 and last traded at $905.84, with a volume of 110329 shares changing hands. The stock had previously closed at $895.18.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods raised their price target on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Wells Fargo & Company began coverage on BlackRock in a report on Thursday, September 12th. They set an “overweight” rating and a $1,000.00 price objective for the company. Barclays raised their target price on shares of BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Finally, Morgan Stanley decreased 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 eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $902.13.

BlackRock Stock Up 1.3 %

The company’s fifty day simple moving average is $866.54 and its 200 day simple moving average is $817.30. The firm has a market capitalization of $138.88 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 1.92 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the business posted $9.28 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Research analysts expect that BlackRock, Inc. will post 41.34 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be given a $5.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.18%. BlackRock’s payout ratio is 51.84%.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the company’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 directly owns 353,718 shares in the company, valued at $298,272,703.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is currently owned by insiders.

Institutional Trading of BlackRock

Hedge funds have recently bought and sold shares of the business. Redmont Wealth Advisors LLC acquired a new stake in shares of BlackRock during the first quarter worth $27,000. Pineridge Advisors LLC purchased a new stake in shares of BlackRock in the fourth quarter valued at $28,000. Fairscale Capital LLC purchased a new stake in BlackRock in the 2nd quarter valued at about $31,000. Lam Group Inc. purchased a new stake in BlackRock in the first quarter valued at approximately $33,000. Finally, Fairman Group LLC purchased a new position in BlackRock during the fourth quarter worth approximately $35,000. 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.