J. Richard Kushel Sells 10,000 Shares of BlackRock, Inc. (NYSE:BLK) Stock

BlackRock, Inc. (NYSE:BLK) Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the transaction, the director now directly owns 66,034 shares of the company’s stock, valued at $60,256,025. This represents a 13.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

J. Richard Kushel also recently made the following trade(s):

• On Monday, April 21st, J. Richard Kushel sold 2,000 shares of BlackRock stock. The shares were sold at an average price of $852.01, for a total transaction of $1,704,020.00.
• On Friday, February 28th, J. Richard Kushel sold 430 shares of BlackRock stock. The stock was sold at an average price of $949.37, for a total transaction of $408,229.10.
• On Thursday, January 30th, J. Richard Kushel sold 10,000 shares of BlackRock stock. The stock was sold at an average price of $1,072.64, for a total transaction of $10,726,400.00.

BlackRock Stock Up 0.8 %

Shares of BlackRock stock opened at $920.81 on Wednesday. The stock has a 50-day simple moving average of $919.18 and a 200-day simple moving average of $982.91. BlackRock, Inc. has a 52-week low of $748.78 and a 52-week high of $1,084.22. The firm has a market cap of $142.96 billion, a price-to-earnings ratio of 21.92, a P/E/G ratio of 1.90 and a beta of 1.38. 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 posted its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping the consensus estimate of $10.84 by $0.46. The company had revenue of $5.28 billion during 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 company’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 posted $9.81 earnings per share. On average, equities research analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Bank of America reduced their price objective on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Morgan Stanley dropped their price target on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Citigroup decreased their target price on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating for the company in a report on Monday, April 14th. Keefe, Bruyette & Woods cut their price target on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,077.08.

Hedge Funds Weigh In On BlackRock

Several institutional investors have recently bought and sold shares of the stock. Morse Asset Management Inc acquired a new position in BlackRock during the third quarter valued at approximately $66,000. Invst LLC grew its stake in BlackRock by 2.2% in the 3rd quarter. Invst LLC now owns 2,435 shares of the asset manager’s stock valued at $2,312,000 after buying an additional 52 shares during the last quarter. Wealthquest Corp bought a new position in BlackRock in the 3rd quarter worth $225,000. Tudor Financial Inc. acquired a new position in BlackRock during the 3rd quarter worth $399,000. Finally, Anchor Investment Management LLC boosted its holdings in BlackRock by 31.8% during the third quarter. Anchor Investment Management LLC now owns 791 shares of the asset manager’s stock valued at $751,000 after acquiring an additional 191 shares during the period. 80.69% of the stock is currently owned by 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.