The Senior MD of Blackrock Inc (NYSE: BLK) is Selling Shares

By George MacDonald

Today, the Senior MD of Blackrock Inc (NYSE: BLK), Mark Mccombe, sold shares of BLK for $524.9K.

Following Mark Mccombe’s last BLK Sell transaction on May 13, 2016, the stock climbed by 26.9%. In addition to Mark Mccombe, 6 other BLK executives reported Sell trades in the last month.

Based on Blackrock Inc`s latest earnings report from December 31, the company posted quarterly revenue of $2.92B and quarterly net profit of $861M. In comparison, last year the company earned revenue of $2.91B and had a net profit of $819M. The company has a one year high of $376.65 and a one year low of $280.55. BLK’s market cap is $61.24B and the company has a P/E ratio of 20.04.

Based on 9 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $394.29, reflecting a -5.4% downside.

Looking at blogger coverage of BLK, there is a 84% Bullish tendency on the stock, in relation to a 68% average bullish tendency within the Financial sector.

Over the last 3 months, the insider sentiment on Blackrock Inc has been negative based on 136 corporate insider transactions. This sentiment is lower than the average sector sentiment of insiders.

BlackRock, Inc. provides investment management, risk management and advisory services for institutional and retail clients worldwide. The company’s platform enables it to offer active investments with index products and risk management to develop tailored solutions for clients. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments. The company offers its products directly and through intermediaries in a variety of vehicles, including open-end and closed-end mutual funds, iShares exchange-traded funds and other exchange-traded products, including exchange-traded funds and exchange-traded products, collective investment funds and separate accounts. It also offers BlackRock Solutions investment systems, risk management and advisory services primarily to institutional investors. BlackRock was founded by Ralph L. Schlosstein, Susan L. Wagner, Robert Steven Kapito and Laurence Douglas Fink in 1998 and is headquartered in New York, NY.