BLK has been the topic of a number of other reports. Zacks Investment Research upgraded BlackRock from a hold rating to a buy rating and set a $410.00 price target on the stock in a research note on Monday, September 19th. Barclays PLC upped their price target on BlackRock from $364.00 to $375.00 and gave the stock an equal weight rating in a research note on Wednesday, August 24th. Deutsche Bank AG upped their price target on BlackRock from $404.00 to $414.00 and gave the stock a buy rating in a research note on Friday, September 9th. Wells Fargo & Co. restated a hold rating on shares of BlackRock in a research note on Monday, July 11th. Finally, Jefferies Group decreased their price target on BlackRock from $359.00 to $357.00 and set a hold rating on the stock in a research note on Monday, July 11th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $382.56.
Shares of BlackRock (NYSE:BLK) traded down 0.97% on Monday, reaching $355.32. The company had a trading volume of 60,450 shares. The firm’s 50 day moving average is $366.19 and its 200 day moving average is $357.12. BlackRock has a 12 month low of $280.55 and a 12 month high of $376.65. The firm has a market capitalization of $58.44 billion, a PE ratio of 18.93 and a beta of 1.46.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by $0.04. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the company earned $4.96 earnings per share. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, equities research analysts expect that BlackRock will post $19.23 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 2nd were issued a dividend of $2.29 per share. This represents a $9.16 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Wednesday, August 31st. BlackRock’s dividend payout ratio is currently 48.83%.
In related news, Director Mark Mccombe sold 1,400 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $374.92, for a total transaction of $524,888.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Susan Wagner sold 79,346 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $366.35, for a total value of $29,068,407.10. Following the transaction, the director now directly owns 587,365 shares in the company, valued at approximately $215,181,167.75. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in BLK. Vanguard Group Inc. raised its position in BlackRock by 2.1% in the second quarter. Vanguard Group Inc. now owns 7,326,122 shares of the company’s stock worth $2,509,417,000 after buying an additional 150,093 shares in the last quarter. FMR LLC increased its stake in shares of BlackRock by 1.6% in the second quarter. FMR LLC now owns 4,139,658 shares of the company’s stock worth $1,417,958,000 after buying an additional 65,452 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of BlackRock by 7.0% in the second quarter. JPMorgan Chase & Co. now owns 3,372,334 shares of the company’s stock worth $1,155,126,000 after buying an additional 219,654 shares during the last quarter. Capital World Investors increased its stake in shares of BlackRock by 1.0% in the second quarter. Capital World Investors now owns 3,282,208 shares of the company’s stock worth $1,124,255,000 after buying an additional 31,191 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of BlackRock by 0.6% in the second quarter. Ameriprise Financial Inc. now owns 1,878,497 shares of the company’s stock worth $643,336,000 after buying an additional 10,918 shares during the last quarter. 81.58% of the stock is currently owned by hedge funds and other institutional investors.
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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