BlackRock Inc. (NYSE:BLK) – Research analysts at Credit Agricole SA lifted their FY2017 earnings per share (EPS) estimates for BlackRock in a research note issued on Wednesday. Credit Agricole SA analyst R. Rutschow now expects that the firm will post earnings of $21.35 per share for the year, up from their previous forecast of $21.10.
BLK has been the topic of several other research reports. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $410.00 price target on the stock in a research report on Monday, September 19th. Barclays PLC increased their price target on shares of BlackRock from $364.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 24th. Citigroup Inc. reiterated a “buy” rating and set a $400.00 price target on shares of BlackRock in a research report on Monday, October 10th. Deutsche Bank AG increased their price objective on shares of BlackRock from $412.00 to $418.00 and gave the company a “buy” rating in a research note on Wednesday, October 5th. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of BlackRock in a research note on Monday, July 11th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. BlackRock has an average rating of “Buy” and a consensus price target of $385.26.
BlackRock (NYSE:BLK) opened at 354.91 on Monday. BlackRock has a one year low of $280.55 and a one year high of $376.65. The stock has a 50 day moving average of $364.07 and a 200 day moving average of $357.11. 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 announced its quarterly 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 net margin of 28.12% and a return on equity of 11.07%. The firm earned $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the firm earned $4.96 EPS. BlackRock’s quarterly revenue was down 3.5% on a year-over-year basis.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Fund Management S.A. boosted its position in shares of BlackRock by 1,742.8% in the second quarter. Capital Fund Management S.A. now owns 31,327 shares of the company’s stock worth $10,730,000 after buying an additional 29,627 shares in the last quarter. Windward Capital Management Co. CA boosted its position in shares of BlackRock by 0.8% in the second quarter. Windward Capital Management Co. CA now owns 44,866 shares of the company’s stock worth $15,368,000 after buying an additional 363 shares in the last quarter. Legal & General Group Plc boosted its position in shares of BlackRock by 1.7% in the first quarter. Legal & General Group Plc now owns 525,766 shares of the company’s stock worth $179,060,000 after buying an additional 8,694 shares in the last quarter. Royal Bank of Canada boosted its position in shares of BlackRock by 2.2% in the first quarter. Royal Bank of Canada now owns 436,900 shares of the company’s stock worth $148,796,000 after buying an additional 9,486 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its position in shares of BlackRock by 2.2% in the second quarter. LS Investment Advisors LLC now owns 38,951 shares of the company’s stock worth $13,342,000 after buying an additional 849 shares in the last quarter. Hedge funds and other institutional investors own 81.57% of the company’s stock.
In other news, Director Susan Wagner sold 79,346 shares of BlackRock stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Mccombe sold 1,400 shares of BlackRock stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $374.92, for a total transaction of $524,888.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were issued a $2.29 dividend. This represents a $9.16 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Wednesday, August 31st. BlackRock’s payout ratio is 48.83%.
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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