BlackRock, Inc. (NYSE:BLK) Sees Large Decline in Short Interest

BlackRock, Inc. (NYSE:BLK - Get Free Report) was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totalling 1,470,000 shares, a decline of 22.6% from the March 15th total of 1,900,000 shares. Based on an average trading volume of 957,000 shares, the short-interest ratio is presently 1.5 days. Currently, 1.0% of the company's stock are sold short.

BlackRock Stock Up 1.2 %

Shares of BLK stock traded up $10.08 on Friday, reaching $875.86. 1,034,313 shares of the company were exchanged, compared to its average volume of 685,471. The company has a market cap of $135.98 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 1.90 and a beta of 1.38. BlackRock has a one year low of $745.55 and a one year high of $1,084.22. The company has a 50-day moving average of $930.31 and a 200-day moving average of $985.45. 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 - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.81 EPS. Analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were issued a $5.21 dividend. This is an increase from BlackRock's previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Friday, March 7th. BlackRock's payout ratio is 50.63%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup reduced their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday, April 14th. TD Cowen reduced their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company decreased their target price on BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. StockNews.com assumed coverage on BlackRock in a research report on Monday, April 14th. They set a "hold" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, BlackRock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,077.08.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 430 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $949.37, for a total value of $408,229.10. Following the completion of the sale, the director now owns 3,720 shares of the company's stock, valued at approximately $3,531,656.40. This represents a 10.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 20,430 shares of company stock worth $21,234,629. Corporate insiders own 0.90% of the company's stock.

Institutional Trading of BlackRock

A number of large investors have recently bought and sold shares of the company. Oddo BHF Asset Management Sas bought a new position in shares of BlackRock in the third quarter worth $518,000. Amalgamated Bank lifted its holdings in BlackRock by 1.7% during the 4th quarter. Amalgamated Bank now owns 28,711 shares of the asset manager's stock worth $29,432,000 after purchasing an additional 489 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in BlackRock by 4.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager's stock valued at $12,793,000 after buying an additional 578 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of BlackRock by 6.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager's stock valued at $67,038,000 after buying an additional 4,210 shares during the period. Finally, Artemis Investment Management LLP lifted its holdings in shares of BlackRock by 48.2% in the fourth quarter. Artemis Investment Management LLP now owns 39,539 shares of the asset manager's stock worth $40,532,000 after buying an additional 12,864 shares in the last quarter. 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.

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