BlackRock, Inc. (BLK) Receives $463.08 Average PT from Brokerages
Shares of BlackRock, Inc. (NYSE:BLK) have been given an average recommendation of “Buy” by the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $474.23.
BLK has been the subject of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating and issued a $476.00 price objective (up from $460.00) on shares of BlackRock in a research note on Tuesday, July 18th. Barclays PLC initiated coverage on shares of BlackRock in a research note on Friday, September 8th. They issued an “overweight” rating and a $475.00 price objective for the company. BidaskClub upgraded shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Bank of America Corporation reiterated a “buy” rating and issued a $450.00 price objective on shares of BlackRock in a research note on Monday, June 19th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th.
Shares of BlackRock (NYSE:BLK) traded down 0.50% during midday trading on Thursday, hitting $475.55. The company had a trading volume of 431,729 shares. The company has a market capitalization of $76.85 billion, a price-to-earnings ratio of 22.28 and a beta of 1.72. BlackRock has a 12-month low of $336.84 and a 12-month high of $485.23. The company’s 50-day moving average price is $437.85 and its 200 day moving average price is $416.14.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, beating analysts’ consensus estimates of $5.49 by $0.43. BlackRock had a net margin of 29.52% and a return on equity of 12.09%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the business earned $5.14 EPS. BlackRock’s revenue was up 14.0% compared to the same quarter last year. Equities research analysts predict that BlackRock will post $22.35 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th were issued a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Thursday, August 31st. BlackRock’s dividend payout ratio is currently 46.82%.
In other news, insider Mark Mccombe sold 1,000 shares of BlackRock stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $478.99, for a total transaction of $478,990.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert W. Fairbairn sold 3,675 shares of BlackRock stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. Insiders have sold a total of 5,025 shares of company stock valued at $2,162,130 over the last ninety days. 1.86% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Everett Harris & Co. CA lifted its holdings in shares of BlackRock by 9.2% during the 2nd quarter. Everett Harris & Co. CA now owns 100,143 shares of the asset manager’s stock worth $42,301,000 after acquiring an additional 8,478 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of BlackRock by 19.1% during the 1st quarter. Stifel Financial Corp now owns 170,590 shares of the asset manager’s stock worth $65,487,000 after acquiring an additional 27,321 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of BlackRock by 48.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 101,703 shares of the asset manager’s stock worth $42,960,000 after acquiring an additional 33,400 shares during the last quarter. Blue Chip Partners Inc. lifted its holdings in shares of BlackRock by 8.5% during the 2nd quarter. Blue Chip Partners Inc. now owns 13,440 shares of the asset manager’s stock worth $5,677,000 after acquiring an additional 1,055 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of BlackRock by 35.1% during the 1st quarter. KBC Group NV now owns 50,282 shares of the asset manager’s stock worth $19,284,000 after acquiring an additional 13,065 shares during the last quarter. 82.47% of the stock is owned by institutional investors.
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BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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