BlackRock Inc. (NYSE:BLK) had its target price upped by Deutsche Bank AG from $412.00 to $418.00 in a report issued on Wednesday, StockTargetPrices.com reports. Deutsche Bank AG currently has a buy rating on the stock.
A number of other equities analysts also recently issued reports on BLK. Morgan Stanley reaffirmed a buy rating on shares of BlackRock in a report on Tuesday, June 7th. Credit Suisse Group AG reaffirmed a buy rating on shares of BlackRock in a report on Friday, June 10th. Barclays PLC reaffirmed an equal weight rating and issued a $363.00 price target on shares of BlackRock in a report on Wednesday, June 15th. Citigroup Inc. reaffirmed a buy rating on shares of BlackRock in a report on Thursday, June 16th. Finally, Zacks Investment Research downgraded BlackRock from a hold rating to a sell rating in a report on Monday, June 20th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $383.19.
Shares of BlackRock (NYSE:BLK) opened at 357.21 on Wednesday. BlackRock has a 1-year low of $280.55 and a 1-year high of $376.65. The company has a 50-day moving average of $366.57 and a 200-day moving average of $356.70. The firm has a market cap of $58.75 billion, a PE ratio of 19.03 and a beta of 1.46.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Thursday, July 14th. The company reported $4.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.82 by $0.04. The business earned $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the company earned $4.96 earnings per share. Analysts predict that BlackRock will post $19.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were given a $2.29 dividend. This represents a $9.16 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Wednesday, August 31st. BlackRock’s payout ratio is 48.83%.
In other BlackRock news, Director J. Richard Kushel sold 8,000 shares of the stock in a transaction on Friday, July 15th. The stock was sold at an average price of $356.55, for a total value of $2,852,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan Stork sold 1,400 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $367.24, for a total value of $514,136.00. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Feltz Wealth PLAN Inc. acquired a new position in BlackRock during the second quarter valued at about $126,000. Mycio Wealth Partners LLC boosted its position in BlackRock by 3.3% in the second quarter. Mycio Wealth Partners LLC now owns 379 shares of the company’s stock valued at $130,000 after buying an additional 12 shares during the last quarter. Ropes Wealth Advisors LLC boosted its position in BlackRock by 35.3% in the first quarter. Ropes Wealth Advisors LLC now owns 387 shares of the company’s stock valued at $132,000 after buying an additional 101 shares during the last quarter. Citizens Financial Group Inc RI boosted its position in BlackRock by 16.1% in the first quarter. Citizens Financial Group Inc RI now owns 389 shares of the company’s stock valued at $133,000 after buying an additional 54 shares during the last quarter. Finally, Financial Architects Inc boosted its position in BlackRock by 7.8% in the second quarter. Financial Architects Inc now owns 431 shares of the company’s stock valued at $148,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 81.58% of the company’s stock.
BlackRock Company Profile
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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