BlackRock (NYSE:BLK) Trading Down 0.7% – Should You Sell?

BlackRock, Inc. (NYSE:BLK)’s stock price was down 0.7% during trading on Monday . The stock traded as low as $976.79 and last traded at $985.06. Approximately 203,880 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 796,786 shares. The stock had previously closed at $992.04.

Analyst Ratings Changes

Several brokerages have recently issued reports on BLK. Barclays lowered their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday, January 13th. StockNews.com began coverage on BlackRock in a report on Sunday. They issued a “hold” rating for the company. Evercore ISI lifted their price target on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their price target on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Finally, Wells Fargo & Company lifted their target price on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Stock Performance

The firm has a market capitalization of $150.78 billion, a P/E ratio of 23.18, a P/E/G ratio of 1.93 and a beta of 1.28. The stock has a fifty day simple moving average of $1,023.22 and a two-hundred day simple moving average of $971.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23.

BlackRock (NYSE:BLK) last released its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. BlackRock’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.66 EPS. On average, research analysts predict that BlackRock, Inc. will post 47.44 EPS for the current year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be paid a $5.21 dividend. The ex-dividend date is Friday, March 7th. This is an increase from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 2.14%. BlackRock’s dividend payout ratio (DPR) is currently 48.57%.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the transaction, the director now owns 6,480 shares in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the transaction, the director now owns 68,433 shares of the company’s stock, valued at $73,403,973.12. This represents a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,190 shares of company stock valued at $115,163,141 in the last three months. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of BlackRock

Several institutional investors and hedge funds have recently modified their holdings of the stock. IAG Wealth Partners LLC purchased a new position in BlackRock during the fourth quarter worth about $26,000. FSA Wealth Management LLC bought a new position in shares of BlackRock during the 3rd quarter worth approximately $26,000. Collier Financial purchased a new position in shares of BlackRock in the 4th quarter worth approximately $32,000. Compass Planning Associates Inc bought a new position in shares of BlackRock in the fourth quarter valued at approximately $33,000. Finally, Atwood & Palmer Inc. purchased a new stake in shares of BlackRock during the fourth quarter valued at approximately $36,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

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.