BlackRock (NYSE:BLK) Director Rachel Lord Sells 7,000 Shares of Company Stock

BlackRock (NYSE:BLK) Director Rachel Lord sold 7,000 shares of the company’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $1,219.55, for a total value of $8,536,850.00. Following the transaction, the director directly owned 6,065 shares in the company, valued at $7,396,570.75. The trade was a 53.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

BlackRock Stock Down 0.8%

BlackRock stock traded down $9.83 during mid-day trading on Thursday, hitting $1,216.48. The company’s stock had a trading volume of 382,815 shares, compared to its average volume of 737,420. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,242.12. The company has a market cap of $188.40 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.27 and a beta of 1.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.44 and a quick ratio of 3.44. The firm’s 50 day moving average is $1,109.30 and its 200 day moving average is $1,066.82.

BlackRock (NYSE:BLK) last released its earnings results on Wednesday, October 14th. The asset manager reported $15.93 earnings per share for the quarter, beating the consensus estimate of $14.32 by $1.61. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.42 billion. BlackRock had a return on equity of 15.60% and a net margin of 24.22%. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.43 EPS. On average, analysts anticipate that BlackRock will post 57.82 earnings per share for the current year.

Institutional Investors Weigh In On BlackRock

Institutional investors have recently made changes to their positions in the company. Meeder Advisory Services Inc. raised its holdings in shares of BlackRock by 5.4% during the 3rd quarter. Meeder Advisory Services Inc. now owns 4,360 shares of the asset manager’s stock valued at $4,614,000 after purchasing an additional 225 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in BlackRock by 7.3% in the third quarter. Benjamin Edwards Inc. now owns 8,717 shares of the asset manager’s stock worth $9,231,000 after purchasing an additional 591 shares in the last quarter. DiPaolo Financial Group Inc. acquired a new position in BlackRock during the third quarter worth $90,000. First Trust Advisors LP increased its position in BlackRock by 6.6% during the third quarter. First Trust Advisors LP now owns 51,932 shares of the asset manager’s stock worth $54,959,000 after buying an additional 3,228 shares during the last quarter. Finally, BNP Paribas increased its position in BlackRock by 36.7% during the third quarter. BNP Paribas now owns 9,673 shares of the asset manager’s stock worth $10,284,000 after buying an additional 2,596 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Latest BlackRock News

Here’s some of the latest news about BLK:

• Positive Sentiment: BlackRock’s expansion in private markets, strategic acquisitions and record $15.49 trillion in assets under management are highlighted as potential long-term growth drivers. The report also notes rising expenses, which could limit the benefit. Article: BlackRock’s Private Markets Expansion: A Key Long-Term Growth Driver?
• Neutral Sentiment: BlackRock’s participation in a London forum on Ethereum reflects institutional attention to tokenization and blockchain settlement, but the report describes discussion and exploration rather than a specific new business or revenue commitment. Article: Ethereum Draws Wall Street Attention
• Negative Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) saw about $269.7 million in withdrawals on Nov. 11 and more than $2 billion in net outflows across nine sessions. Broader U.S. spot Bitcoin ETFs also recorded sustained redemptions. Continued withdrawals could reduce assets and fee revenue tied to the products. Article: BlackRock Bitcoin ETF outflows hit $2B over nine sessions

Analyst Ratings Changes

A number of research analysts recently commented on BLK shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $1,341.00 price objective on shares of BlackRock in a research report on Wednesday, October 28th. The Goldman Sachs Group cut their target price on shares of BlackRock from $1,389.00 to $1,346.00 and set a “buy” rating for the company in a research report on Friday, October 2nd. BNP Paribas Exane lifted their target price on shares of BlackRock from $1,370.00 to $1,430.00 and gave the company an “outperform” rating in a research note on Thursday, October 15th. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $1,435.00 to $1,449.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Finally, Zacks Research downgraded shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,342.25.

About BlackRock

BlackRock, Inc. is a global investment management and financial technology company serving individuals, institutions, governments and other organizations. Founded in 1988, the company is headquartered in New York City and operates in markets around the world. BlackRock offers investment products and services across asset classes, including equities, fixed income, cash management and alternative investments. Its offerings include exchange-traded funds and other funds under the iShares brand, as well as portfolio management, investment advisory and risk management services.