ValuEngine Lowers BlackRock (BLK) to Hold

BlackRock (NYSE:BLK) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

BLK has been the subject of several other reports. Credit Suisse Group upped their price target on shares of BlackRock from $678.00 to $682.00 and gave the company an “outperform” rating in a research report on Friday, April 13th. Zacks Investment Research upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Thursday, March 29th. Deutsche Bank cut their price target on shares of BlackRock to $623.00 and set a “buy” rating for the company in a research report on Tuesday, March 6th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $640.00 price target on shares of BlackRock in a research report on Wednesday, March 14th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $566.62.

BlackRock opened at $523.36 on Friday, according to MarketBeat Ratings. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 1.02. BlackRock has a 12-month low of $408.62 and a 12-month high of $594.52. The stock has a market cap of $87.94 billion, a price-to-earnings ratio of 23.16, a price-to-earnings-growth ratio of 1.66 and a beta of 1.67.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Thursday, April 12th. The asset manager reported $6.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.39 by $0.31. BlackRock had a net margin of 39.22% and a return on equity of 12.76%. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same period in the prior year, the business posted $5.25 earnings per share. The company’s revenue was up 15.9% on a year-over-year basis. sell-side analysts predict that BlackRock will post 28.01 earnings per share for the current fiscal year.

In other news, Director William E. Ford bought 1,000 shares of the company’s stock in a transaction dated Wednesday, May 9th. The stock was bought at an average cost of $530.95 per share, for a total transaction of $530,950.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff A. Smith sold 166 shares of the stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $546.13, for a total transaction of $90,657.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,066 shares of company stock valued at $558,514. 1.75% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Bamco Inc. NY bought a new position in BlackRock in the first quarter worth about $106,000. Princeton Capital Management LLC bought a new position in BlackRock in the first quarter worth about $115,000. Bray Capital Advisors bought a new position in BlackRock in the first quarter worth about $128,000. O Shaughnessy Asset Management LLC bought a new position in BlackRock in the first quarter worth about $139,000. Finally, Assetmark Inc. raised its stake in BlackRock by 57.1% in the fourth quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock worth $143,000 after buying an additional 101 shares in the last quarter. Institutional investors own 83.76% of the company’s stock.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for BlackRock (NYSE:BLK)

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