BlackRock, Inc. (BLK) Hits a New 52-Week High

Larry Fink

Larry Fink

"The organic growth that BlackRock is experiencing is a direct result of the investments we've made over time to build our platform". Corporate insiders own 1.86% of the company's stock. The firm's revenue for the quarter was up 7.6% compared to the same quarter previous year. As of the end of the quarter Fisher Asset Management, LLC had bought 629 shares growing its stake by 0.6%. The ex-dividend date was Thursday, June 1st. During the second quarter, investors added $7.5 billion to the company's actively managed funds including retail fixed-income products and multiasset strategies for institutional investors. BlackRock's dividend payout ratio is presently 49.14%. Analysts are expecting EPS growth rates to be at -3.80% this quarter and EPS estimate for next year reflect 13.63% growth rate. The firm's $1.5 trillion ETF business gives the world's largest asset manager a major competitive edge. Finally, Bahl & Gaynor Inc. raised its position in shares of BlackRock by 1.9% in the first quarter. Wells Fargo & Company MN now owns 2,041,394 shares of the asset manager's stock worth $782,896,000 after buying an additional 80,433 shares during the last quarter.

BLK has been the topic of a number of research analyst reports.

TRADEMARK VIOLATION NOTICE: This story was originally published by Stock Observer and is owned by of Stock Observer. Zacks Investment Research raised shares of BlackRock from a "hold" rating to a "buy" rating and set a $480.00 target price on the stock in a research note on Tuesday, June 20th.

BlackRock, Inc. (BLK) Hits a New 52-Week High
BlackRock, Inc. (BLK) Hits a New 52-Week High

B & T Capital Management DBA Alpha Capital Management acquired a new position in shares of BlackRock, Inc. Jefferies Group LLC reaffirmed a "hold" rating and set a $387.00 target price on shares of BlackRock in a research note on Wednesday, May 17th. If you are viewing this piece of content on another publication, it was stolen and republished in violation of United States & global copyright & trademark law. Alyeska Investment Group L.P. now owns 91,479 shares of the asset manager's stock worth $34,811,000 after buying an additional 66,503 shares during the period. Bank of New York Mellon Corp raised its position in shares of BlackRock by 0.7% in the first quarter. The correct version of this report can be accessed at https://www.chaffeybreeze.com/2017/07/17/deutsche-bank-ag-raises-blackrock-inc-nyseblk-price-target-to-449-00-updated.html. BidaskClub upgraded BlackRock from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 1st. Morgan Stanley reiterated an "overweight" rating and set a $460.00 target price (up from $422.00) on shares of BlackRock in a research note on Monday, July 10th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. And it remains to be seen which target price BLK can achieve without sacrificing much as the company is holding a 23.41% gain for the past twelve months.

In related news, insider Mark Mccombe sold 500 shares of the firm's stock in a transaction on Friday, May 26th. The Stock becomes significant when you consider how many shares are shorted versus the average daily volume, means how many days to cover those short shares at that volume.

Let's also take a brief look at the stock price in relation to some highs/lows and moving averages. Following the sale, the director now directly owns 484,386 shares of the company's stock, valued at approximately $200,685,963.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Aladdin will be a "transformation" for BlackRock to excel in portfolio construction and risk management.

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