Shares of BlackRock Inc. (NYSE:BLK) have been given a consensus recommendation of “Buy” by the seventeen ratings firms that are currently covering the company. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $383.25.
Several analysts recently issued reports on the company. Barclays PLC reiterated a “hold” rating on shares of BlackRock in a research report on Sunday, July 17th. Deutsche Bank AG reiterated a “buy” rating and set a $392.00 target price (up previously from $372.00) on shares of BlackRock in a research report on Sunday, July 10th. Jefferies Group cut their target price on BlackRock from $359.00 to $357.00 and set a “hold” rating for the company in a research report on Monday, July 11th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $410.00 target price for the company in a research report on Monday, September 19th. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of BlackRock in a research report on Monday, July 11th.
Shares of BlackRock (NYSE:BLK) opened at 354.91 on Tuesday. The company has a market cap of $58.37 billion, a P/E ratio of 18.91 and a beta of 1.46. The firm has a 50-day moving average price of $364.07 and a 200 day moving average price of $357.11. BlackRock has a 12 month low of $280.55 and a 12 month high of $376.65.
BlackRock (NYSE:BLK) last released its earnings results on Thursday, July 14th. The company reported $4.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by $0.04. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the prior year, the business posted $4.96 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. Equities analysts predict that BlackRock will post $19.23 earnings per share for the current year.
The company 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 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Wednesday, August 31st. BlackRock’s dividend payout ratio (DPR) is presently 48.83%.
In other BlackRock news, Director Susan Wagner sold 25,000 shares of BlackRock stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $368.29, for a total transaction of $9,207,250.00. Following the completion of the sale, the director now directly owns 537,365 shares of the company’s stock, valued at approximately $197,906,155.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ryan Stork sold 1,400 shares of BlackRock stock in a transaction on Monday, August 1st. The shares were 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. Company insiders own 2.20% of the company’s stock.
Large investors have recently modified their holdings of the stock. Feltz Wealth PLAN Inc. bought a new position in BlackRock during the second quarter valued at approximately $126,000. Mycio Wealth Partners LLC raised 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 raised 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 raised 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 raised 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. 81.58% of the stock is owned by institutional investors and hedge funds.
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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