BlackRock Inc. (NYSE:BLK) – Stock analysts at Gabelli reduced their FY2016 EPS estimates for BlackRock in a research note issued on Wednesday. Gabelli analyst M. Sykes now forecasts that the firm will earn $19.30 per share for the year, down from their prior forecast of $19.32. Gabelli also issued estimates for BlackRock’s Q4 2016 earnings at $5.25 EPS.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing the consensus estimate of $4.82 by $0.04. The firm 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 company’s revenue was down 3.5% on a year-over-year basis. During the same period last year, the company earned $4.96 EPS.
BLK has been the subject of several other research reports. Deutsche Bank AG raised their price objective on BlackRock from $392.00 to $400.00 and gave the company a “buy” rating in a report on Friday, August 5th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $393.00 price objective on shares of BlackRock in a report on Friday. Jefferies Group decreased their price objective on BlackRock from $359.00 to $357.00 and set a “hold” rating for the company in a report on Monday, July 11th. Wells Fargo & Co. restated a “hold” rating on shares of BlackRock in a report on Monday, July 11th. Finally, Barclays PLC raised their price objective on BlackRock from $375.00 to $378.00 and gave the company an “equal weight” rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $384.00.
BlackRock (NYSE:BLK) opened at 354.91 on Thursday. The firm has a market capitalization of $58.37 billion, a PE ratio of 18.91 and a beta of 1.46. The stock has a 50 day moving average price of $364.07 and a 200-day moving average price of $357.11. BlackRock has a one year low of $280.55 and a one year high of $376.65.
The company also recently disclosed 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. The ex-dividend date was Wednesday, August 31st. This represents a $9.16 annualized dividend and a yield of 2.58%. BlackRock’s dividend payout ratio is currently 48.83%.
In other BlackRock news, Director Susan Wagner sold 79,346 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $366.35, for a total transaction of $29,068,407.10. Following the completion of the transaction, the director now directly owns 587,365 shares in the company, valued at $215,181,167.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ryan Stork sold 1,400 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $367.24, for a total transaction of $514,136.00. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cohen & Steers Inc. increased its position in shares of BlackRock by 5,080.7% in the second quarter. Cohen & Steers Inc. now owns 1,484,377 shares of the company’s stock valued at $38,371,000 after buying an additional 1,455,725 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of BlackRock during the second quarter valued at approximately $87,641,000. JPMorgan Chase & Co. increased its position 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 valued at $1,155,126,000 after buying an additional 219,654 shares in the last quarter. Alleghany Corp DE increased its position in shares of BlackRock by 77.8% in the second quarter. Alleghany Corp DE now owns 400,000 shares of the company’s stock valued at $136,984,000 after buying an additional 175,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of BlackRock by 2.1% in the second quarter. Vanguard Group Inc. now owns 7,326,122 shares of the company’s stock valued at $2,509,417,000 after buying an additional 150,093 shares in the last quarter. Institutional investors and hedge funds own 81.58% of the company’s stock.
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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