Jefferies Group LLC reiterated their hold rating on shares of BlackRock, Inc. (NYSE:BLK) in a research note issued to investors on Thursday. Jefferies Group LLC currently has a $465.00 price target on the asset manager’s stock. Jefferies Group also issued estimates for BlackRock’s Q3 2017 earnings at $5.63 EPS, Q4 2017 earnings at $6.09 EPS, FY2017 earnings at $22.19 EPS, FY2018 earnings at $25.15 EPS and FY2019 earnings at $28.39 EPS.
A number of other analysts have also issued reports on the company. Morgan Stanley reiterated an overweight rating and issued a $476.00 price target (up previously from $460.00) on shares of BlackRock in a report on Tuesday, July 18th. Barclays PLC started coverage on BlackRock in a report on Friday, September 8th. They issued an overweight rating and a $475.00 price target for the company. BidaskClub upgraded BlackRock from a buy rating to a strong-buy rating in a report on Saturday, July 1st. Bank of America Corporation reiterated a buy rating and issued a $450.00 price target on shares of BlackRock in a report on Monday, June 19th. Finally, Credit Suisse Group reiterated an outperform rating on shares of BlackRock in a report on Tuesday, August 29th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $478.50.
BlackRock (NYSE:BLK) opened at 475.49 on Thursday. BlackRock has a 1-year low of $336.84 and a 1-year high of $485.23. The stock has a 50 day moving average price of $437.85 and a 200-day moving average price of $415.88. The stock has a market cap of $76.84 billion, a PE ratio of 22.27 and a beta of 1.72.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.49 by $0.43. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.10 billion. BlackRock had a return on equity of 12.09% and a net margin of 29.52%. BlackRock’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.14 earnings per share. On average, equities analysts expect that BlackRock will post $22.35 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were issued a dividend of $2.50 per share. The ex-dividend date was Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a yield of 2.10%. BlackRock’s dividend payout ratio is currently 46.82%.
In other news, insider Jeff A. Smith sold 522 shares of the stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $421.52, for a total transaction of $220,033.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director J. Richard Kushel sold 100 shares of the stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $481.58, for a total value of $48,158.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,547 shares of company stock valued at $2,382,163. Company insiders own 1.86% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Intl Fcstone Inc. purchased a new stake in shares of BlackRock during the 2nd quarter valued at $383,000. Lord Abbett & CO. LLC lifted its holdings in shares of BlackRock by 22.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 180,141 shares of the asset manager’s stock valued at $76,093,000 after purchasing an additional 32,541 shares during the last quarter. RNC Capital Management LLC lifted its holdings in shares of BlackRock by 3.1% during the 2nd quarter. RNC Capital Management LLC now owns 72,416 shares of the asset manager’s stock valued at $30,589,000 after purchasing an additional 2,173 shares during the last quarter. WFG Advisors LP lifted its holdings in shares of BlackRock by 66.6% during the 2nd quarter. WFG Advisors LP now owns 1,096 shares of the asset manager’s stock valued at $463,000 after purchasing an additional 438 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new stake in shares of BlackRock during the 2nd quarter valued at $345,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.
BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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