BlackRock Inc. (NYSE:BLK) had its price objective increased by equities research analysts at Barclays PLC from $375.00 to $378.00 in a research report issued to clients and investors on Thursday. The brokerage currently has an “equal weight” rating on the stock. Barclays PLC’s price target indicates a potential upside of 6.51% from the stock’s previous close.
Other analysts also recently issued research reports about the stock. Deutsche Bank AG reiterated a “buy” rating and issued a $392.00 price target (up previously from $372.00) on shares of BlackRock in a research report on Saturday, July 16th. Citigroup Inc. reiterated a “buy” rating on shares of BlackRock in a research report on Thursday, June 16th. Credit Suisse Group AG reiterated a “buy” rating on shares of BlackRock in a research report on Tuesday, July 12th. Goldman Sachs Group Inc. downgraded shares of BlackRock from a “conviction-buy” rating to a “buy” rating and upped their price target for the company from $390.00 to $400.00 in a research report on Monday, August 8th. Finally, Vetr upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $382.97 price target for the company in a research report on Wednesday, August 10th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $385.26.
Shares of BlackRock (NYSE:BLK) opened at 354.91 on Thursday. The stock has a 50 day moving average of $364.07 and a 200 day moving average of $357.11. BlackRock has a 12 month low of $280.55 and a 12 month high of $376.65. The firm has a market cap of $58.37 billion, a price-to-earnings ratio of 18.91 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 the consensus estimate of $4.82 by $0.04. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The business earned $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter last year, the company earned $4.96 EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities research analysts expect that BlackRock will post $19.23 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 2nd were paid a $2.29 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $9.16 dividend on an annualized basis and a yield of 2.58%. BlackRock’s payout ratio is 48.83%.
In related news, Director James Grosfeld sold 25,379 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $374.22, for a total value of $9,497,329.38. Following the sale, the director now directly owns 514,402 shares of the company’s stock, valued at approximately $192,499,516.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ryan Stork sold 1,400 shares of the stock in a transaction dated 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. 2.20% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Sun Life Financial INC purchased a new stake in BlackRock during the first quarter valued at about $91,954,000. Feltz Wealth PLAN Inc. purchased a new stake in BlackRock during the second quarter valued at about $126,000. Mycio Wealth Partners LLC boosted 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 in the last quarter. Ropes Wealth Advisors LLC boosted 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 in the last quarter. Finally, Citizens Financial Group Inc RI boosted 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 in the last quarter. 81.57% of the stock is currently owned by hedge funds and other institutional investors.
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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