BlackRock, Inc. (NYSE:BLK) Short Interest Down 7.5% in June

BlackRock, Inc. (NYSE:BLK) was the recipient of a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 1,609,700 shares, a decrease of 7.5% from the May 30th total of 1,741,000 shares. Based on an average daily trading volume, of 504,700 shares, the days-to-cover ratio is currently 3.2 days. Currently, 1.1% of the shares of the company are sold short.

Several research analysts have recently issued reports on BLK shares. Citigroup increased their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Wells Fargo & Co reissued a “buy” rating on shares of Morgan Stanley in a research note on Wednesday, April 17th. Morgan Stanley decreased their price target on Virtus Investment Partners from $121.00 to $118.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. UBS Group increased their price target on T. Rowe Price Group from $109.00 to $111.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Finally, Barclays set a $24.00 price target on Tenet Healthcare and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $506.88.

In related news, Chairman Laurence Fink sold 31,250 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $481.79, for a total transaction of $15,055,937.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gary Shedlin sold 2,750 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $467.99, for a total value of $1,286,972.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,525 shares of company stock valued at $16,591,075. 1.42% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in BLK. Norges Bank purchased a new stake in shares of BlackRock during the fourth quarter valued at $1,092,934,000. Pennsylvania Trust Co lifted its holdings in shares of BlackRock by 5,049.8% during the first quarter. Pennsylvania Trust Co now owns 1,084,132 shares of the asset manager’s stock valued at $44,805,000 after purchasing an additional 1,063,080 shares during the last quarter. Partner Fund Management L.P. purchased a new stake in shares of BlackRock during the fourth quarter valued at $65,513,000. FIL Ltd lifted its holdings in shares of BlackRock by 46.9% during the first quarter. FIL Ltd now owns 416,673 shares of the asset manager’s stock valued at $178,073,000 after purchasing an additional 132,984 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of BlackRock by 8,025.3% during the fourth quarter. Millennium Management LLC now owns 120,904 shares of the asset manager’s stock valued at $47,494,000 after purchasing an additional 119,416 shares during the last quarter. 81.31% of the stock is owned by institutional investors and hedge funds.

Shares of BlackRock stock traded down $2.54 during trading on Monday, hitting $479.92. The stock had a trading volume of 12,996 shares, compared to its average volume of 462,952. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.49 and a current ratio of 3.49. The stock has a market capitalization of $74.55 billion, a price-to-earnings ratio of 17.82, a P/E/G ratio of 1.74 and a beta of 1.52. The firm’s fifty day simple moving average is $452.55. BlackRock has a fifty-two week low of $360.79 and a fifty-two week high of $513.00.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, April 16th. The asset manager reported $6.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.13 by $0.48. BlackRock had a return on equity of 13.46% and a net margin of 30.58%. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same quarter in the prior year, the firm posted $6.48 earnings per share. The company’s revenue was down 6.6% on a year-over-year basis. On average, analysts predict that BlackRock will post 27.71 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.75%. The ex-dividend date was Wednesday, June 5th. BlackRock’s dividend payout ratio is 49.02%.

About BlackRock

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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