BlackRock Inc. (NYSE:BLK) – Equities researchers at Gabelli upped their Q3 2016 earnings per share estimates for shares of BlackRock in a research report issued to clients and investors on Wednesday. Gabelli analyst M. Sykes now anticipates that the brokerage will post earnings per share of $5.03 for the quarter, up from their previous estimate of $4.93. Gabelli also issued estimates for BlackRock’s FY2017 earnings at $23.54 EPS, FY2018 earnings at $28.05 EPS, FY2019 earnings at $33.30 EPS and FY2020 earnings at $39.50 EPS.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Thursday, July 14th. The company reported $4.78 earnings per share 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 analysts’ expectations of $2.81 billion. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. BlackRock’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $4.96 EPS.
A number of other research firms have also recently commented on BLK. Deutsche Bank AG reaffirmed a “buy” rating and set a $392.00 price target (up from $372.00) on shares of BlackRock in a research note on Sunday, July 10th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of BlackRock in a research note on Tuesday, July 12th. Keefe, Bruyette & Woods cut shares of BlackRock from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $390.00 to $383.00 in a research note on Friday, July 15th. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $410.00 price target for the company in a research note on Monday, September 19th. Finally, Citigroup Inc. reiterated a “buy” rating on shares of BlackRock in a report on Thursday, June 16th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $384.00.
Shares of BlackRock (NYSE:BLK) traded up 1.17% during midday trading on Friday, reaching $353.41. 339,169 shares of the company’s stock were exchanged. BlackRock has a 12-month low of $280.55 and a 12-month high of $376.65. The stock’s 50 day moving average price is $364.46 and its 200 day moving average price is $356.98. The company has a market cap of $58.12 billion, a price-to-earnings ratio of 18.83 and a beta of 1.46.
The business also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were given a dividend of $2.29 per share. This represents a $9.16 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Wednesday, August 31st. BlackRock’s dividend payout ratio is presently 48.83%.
In other news, Director Susan Wagner sold 79,346 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $366.35, for a total value of $29,068,407.10. Following the sale, the director now directly owns 587,365 shares of the company’s stock, valued at approximately $215,181,167.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Grosfeld sold 25,379 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $374.22, for a total transaction of $9,497,329.38. Following the completion of the sale, the director now directly owns 514,402 shares in the company, valued at $192,499,516.44. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Sun Life Financial INC acquired a new stake in BlackRock during the first quarter valued at approximately $91,954,000. Feltz Wealth PLAN Inc. acquired a new stake in BlackRock during the second quarter valued at approximately $126,000. Mycio Wealth Partners LLC increased its stake 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 period. Ropes Wealth Advisors LLC increased its stake 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 period. Finally, Citizens Financial Group Inc RI increased its stake 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 period. 81.58% of the stock is currently owned by institutional investors and hedge funds.
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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