BlackRock, Inc. (NYSE:BLK) Short Interest Update

BlackRock, Inc. (NYSE:BLKGet Free Report) saw a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,870,000 shares, an increase of 10.0% from the May 15th total of 1,700,000 shares. Based on an average daily trading volume, of 620,800 shares, the days-to-cover ratio is currently 3.0 days. Currently, 1.3% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BLK. UBS Group boosted their target price on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price objective (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Morgan Stanley lifted their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. boosted their target price on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $845.42.

Check Out Our Latest Report on BlackRock

BlackRock Stock Performance

BLK traded up $14.03 on Monday, hitting $783.36. 286,442 shares of the stock traded hands, compared to its average volume of 606,839. The business has a fifty day moving average price of $776.01 and a two-hundred day moving average price of $790.70. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. BlackRock has a 52 week low of $596.18 and a 52 week high of $845.00. The firm has a market capitalization of $116.41 billion, a PE ratio of 19.56, a P/E/G ratio of 1.59 and a beta of 1.34.

BlackRock (NYSE:BLKGet Free Report) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the firm posted $7.93 EPS. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, research analysts predict that BlackRock will post 41.25 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be paid a $5.10 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a yield of 2.60%. BlackRock’s payout ratio is 51.84%.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the sale, the chief executive officer now owns 383,168 shares in the company, valued at $309,327,694.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Wiedman sold 9,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Trading of BlackRock

Large investors have recently bought and sold shares of the business. Emerald Advisors LLC raised its holdings in shares of BlackRock by 2.5% in the fourth quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after purchasing an additional 26 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in BlackRock by 1.9% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock valued at $712,000 after buying an additional 21 shares in the last quarter. Carolinas Wealth Consulting LLC boosted its holdings in shares of BlackRock by 25.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after acquiring an additional 40 shares in the last quarter. McGlone Suttner Wealth Management Inc. increased its holdings in BlackRock by 8.5% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock worth $620,000 after purchasing an additional 60 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of BlackRock during the fourth quarter worth about $439,000. 80.69% of the stock is owned by institutional investors.

About BlackRock

(Get Free Report)

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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