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BlackRock, Inc. (NYSE:BLK – Get Rating) has been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $712.21.
BLK has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price target on shares of BlackRock from $716.00 to $666.00 and set an “overweight” rating for the company in a research note on Friday, October 14th. UBS Group downgraded shares of BlackRock from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $700.00 to $585.00 in a research note on Tuesday, October 11th. Evercore ISI decreased their price target on shares of BlackRock to $640.00 in a research note on Thursday, October 20th. Credit Suisse Group initiated coverage on shares of BlackRock in a research note on Tuesday, October 18th. They issued a “neutral” rating and a $540.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of BlackRock from $642.00 to $846.00 and gave the stock a “buy” rating in a research note on Tuesday, November 15th.
Insider Buying and Selling at BlackRock
In other BlackRock news, CEO Laurence Fink sold 14,600 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $685.58, for a total transaction of $10,009,468.00. Following the sale, the chief executive officer now directly owns 549,171 shares in the company, valued at approximately $376,500,654.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other BlackRock news, CEO Laurence Fink sold 14,600 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $685.58, for a total transaction of $10,009,468.00. Following the sale, the chief executive officer now directly owns 549,171 shares in the company, valued at approximately $376,500,654.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rachel Lord sold 3,950 shares of the business’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $773.41, for a total transaction of $3,054,969.50. Following the sale, the director now owns 8,319 shares in the company, valued at $6,433,997.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,860 shares of company stock valued at $44,060,191. 1.06% of the stock is owned by company insiders.
Institutional Investors Weigh In On BlackRock
Several institutional investors and hedge funds have recently made changes to their positions in the business. Fisher Asset Management LLC lifted its holdings in BlackRock by 753.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,723,157 shares of the asset manager’s stock valued at $948,219,000 after purchasing an additional 1,521,293 shares in the last quarter. Public Investment Fund purchased a new position in BlackRock in the 2nd quarter valued at about $451,721,000. Franklin Resources Inc. lifted its holdings in BlackRock by 105.6% in the 2nd quarter. Franklin Resources Inc. now owns 1,343,027 shares of the asset manager’s stock valued at $817,958,000 after purchasing an additional 689,874 shares in the last quarter. Vanguard Group Inc. lifted its holdings in BlackRock by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 13,492,083 shares of the asset manager’s stock valued at $7,424,424,000 after purchasing an additional 444,552 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of BlackRock by 15.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,326,618 shares of the asset manager’s stock valued at $1,777,933,000 after acquiring an additional 310,256 shares during the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.
BlackRock Trading Up 0.1 %
NYSE BLK opened at $703.94 on Monday. The firm has a 50 day simple moving average of $687.67 and a 200-day simple moving average of $654.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.03 and a current ratio of 3.03. BlackRock has a one year low of $503.12 and a one year high of $929.05. The firm has a market cap of $105.73 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 3.66 and a beta of 1.30.
BlackRock (NYSE:BLK – Get Rating) last posted its quarterly earnings data on Thursday, October 13th. The asset manager reported $9.55 EPS for the quarter, beating the consensus estimate of $7.70 by $1.85. BlackRock had a net margin of 29.84% and a return on equity of 15.07%. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.17 billion. During the same quarter last year, the firm posted $10.95 earnings per share. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. Equities research analysts anticipate that BlackRock will post 34.18 EPS for the current fiscal year.
BlackRock Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 23rd. Shareholders of record on Wednesday, December 7th were paid a $4.88 dividend. The ex-dividend date of this dividend was Tuesday, December 6th. This represents a $19.52 annualized dividend and a yield of 2.77%. BlackRock’s dividend payout ratio is currently 53.79%.
About BlackRock
(Get Rating)
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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