Mark Wiedman Sells 12,000 Shares of BlackRock, Inc. (NYSE:BLK) Stock

BlackRock, Inc. (NYSE:BLK) Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $875.03, for a total transaction of $10,500,360.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at $5,670,194.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Mark Wiedman also recently made the following trade(s):

• On Monday, August 12th, Mark Wiedman sold 11,061 shares of BlackRock stock. The stock was sold at an average price of $852.95, for a total transaction of $9,434,479.95.
• On Tuesday, July 16th, Mark Wiedman sold 27,000 shares of BlackRock stock. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00.

BlackRock Price Performance

Shares of BLK stock traded up $0.43 during trading hours on Friday, reaching $872.49. The company had a trading volume of 382,964 shares, compared to its average volume of 601,810. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $885.10. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The company has a market capitalization of $129.65 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 1.92 and a beta of 1.32. The stock has a fifty day moving average of $816.23 and a 200-day moving average of $801.61.

BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The company had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the prior year, the business earned $9.28 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities analysts anticipate that BlackRock, Inc. will post 41.23 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Analyst Ratings Changes

BLK has been the subject of several research analyst reports. TD Cowen reduced their target price on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Argus increased their price objective on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. UBS Group cut their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Keefe, Bruyette & Woods raised their price target 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, Citigroup boosted their price objective on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, BlackRock has an average rating of “Moderate Buy” and a consensus target price of $874.07.

Institutional Trading of BlackRock

Hedge funds have recently made changes to their positions in the company. Carolinas Wealth Consulting LLC lifted its holdings in shares of BlackRock by 25.0% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock worth $163,000 after acquiring an additional 40 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of BlackRock in the fourth quarter valued at $439,000. Zhang Financial LLC raised its holdings in shares of BlackRock by 24.0% in the 1st quarter. Zhang Financial LLC now owns 883 shares of the asset manager’s stock valued at $736,000 after buying an additional 171 shares during the period. California State Teachers Retirement System lifted its stake in BlackRock by 0.7% during the 4th quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock worth $192,997,000 after acquiring an additional 1,647 shares in the last quarter. Finally, Farrow Financial Inc. purchased a new position in BlackRock during the 4th quarter valued at about $2,228,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

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.