Traders buy a large volume of call options on BlackRock (NYSE: BLK)
BlackRock, Inc. (NYSE: BLK) was the recipient of unusual options trading activity on Wednesday. Investors bought 16,337 call options on the company. This represents an increase of approximately 2,135% over the average daily volume of 731 call options.
BLK has been the subject of several research analyst reports. Barclays raised its price target on BlackRock shares from $ 850.00 to $ 925.00 and rated the company as “overweight” in a research report released on Friday April 16. Citigroup raised its price target on BlackRock shares from $ 950.00 to $ 1,000.00 in a research report released on Friday, April 16. Wells Fargo & Company raised its price target on BlackRock stock from $ 875.00 to $ 890.00 and assigned the company an “overweight” rating in a research report released on Wednesday, April 7. Credit Suisse Group raised its price target for BlackRock shares from $ 949.00 to $ 984.00 and gave the company an “outperformance” rating in a research report released on Friday, April 16. Finally, the Goldman Sachs group raised its price target on BlackRock shares from $ 840.00 to $ 940.00 in a research report published on Thursday, April 15. Two investment analysts rated the stock with a conservation rating and nine issued a buy rating for the company’s stock. BlackRock currently has a consensus rating of “Buy” and a consensus target price of $ 886.08.
BLK stock opened at $ 887.42 on Thursday. The company has a current ratio of 4.44, a quick ratio of 4.44, and a debt ratio of 0.65. BlackRock has a 12-month low of $ 515.72 and a 12-month high of $ 889.99. The company has a market cap of $ 135.35 billion, a price / earnings ratio of 25.71, a P / E / G ratio of 2.34 and a beta of 1.16. The company has a 50-day moving average price of $ 822.95.
BlackRock (NYSE: BLK) last released its results on Wednesday, April 14. The asset manager reported EPS of $ 7.77 for the quarter, beating the consensus estimate of $ 7.64 by $ 0.13. BlackRock had a net margin of 31.52% and a return on equity of 15.72%. The company posted revenue of $ 4.40 billion for the quarter, compared to $ 4.29 billion according to analysts’ estimates. During the same period last year, the company earned $ 6.60 per share. The company’s quarterly revenue is up 18.5% from the same quarter last year. As a group, equity research analysts predict that BlackRock will post 36.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 23. Shareholders of record on Friday, June 4 will receive a dividend of $ 4.13. This represents an annualized dividend of $ 16.52 and a return of 1.86%. The ex-dividend date is Thursday June 3. BlackRock’s dividend payout ratio is currently 48.85%.
In other BlackRock news, CEO Laurence Fink sold 31,668 shares in a trade on Thursday, May 6. The shares were sold for an average price of $ 865.89, for a total value of $ 27,421,004.52. The sale was disclosed in a legal file with the Securities & Exchange Commission, which is available at this link. In addition, director Mark Wiedman sold 1,725 shares in a trade on Friday April 16. The shares were sold at an average price of $ 812.53 for a total trade of $ 1,401,614.25. Disclosure of this sale can be found here. During the last quarter, insiders sold 38,409 shares of the company valued at $ 32,875,775. Company insiders own 1.16% of the company’s shares.
A number of hedge funds have recently increased or reduced their holdings in BLK. McCarthy Asset Management Inc. purchased a new position in BlackRock in the 4th quarter valued at approximately $ 25,000. Sittner & Nelson LLC acquired a new fourth quarter equity interest in BlackRock valued at approximately $ 25,000. Grandview Asset Management LLC acquired a new 1st quarter equity interest in BlackRock valued at approximately $ 25,000. Birch Capital Management LLC acquired a new 1st quarter equity interest in BlackRock valued at approximately $ 26,000. Finally, Manchester Financial Inc. increased its stake in BlackRock shares by 428.6% in the first quarter. Manchester Financial Inc. now owns 37 shares of the asset manager valued at $ 28,000 after purchasing 30 more shares in the last quarter. 80.13% of the shares are currently held by hedge funds and other institutional investors.
BlackRock Company Profile
BlackRock, Inc provides investment management, risk management, and advisory services to institutional and retail clients around the world. Its products include portfolios with one or more asset classes investing in equities, fixed income securities, alternatives and money market instruments. The company was founded by Ralph L.
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