BlackRock, Inc. (NYSE:BLK) – Equities researchers at Jefferies Group boosted their FY2018 earnings estimates for shares of BlackRock in a note issued to investors on Wednesday. Jefferies Group analyst D. Fannon now expects that the asset manager will post earnings per share of $28.18 for the year, up from their previous forecast of $25.15. Jefferies Group has a “Hold” rating and a $465.00 price target on the stock. Jefferies Group also issued estimates for BlackRock’s Q4 2018 earnings at $7.76 EPS and FY2019 earnings at $31.63 EPS.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.94 by $0.30. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.33 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the prior year, the firm earned $5.14 earnings per share.
Several other equities research analysts have also recently weighed in on the company. Credit Suisse Group reaffirmed a “buy” rating and issued a $680.00 price target on shares of BlackRock in a research note on Friday. Zacks Investment Research raised BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price target on the stock in a research note on Thursday. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $475.00 price target (up from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. JPMorgan Chase & Co. upped their price target on BlackRock to $558.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $500.00 price target on shares of BlackRock in a research note on Thursday, October 12th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. BlackRock currently has an average rating of “Buy” and a consensus price target of $510.67.
Shares of BlackRock (NYSE BLK) opened at $555.53 on Friday. The firm has a market capitalization of $89,069.24, a price-to-earnings ratio of 24.53, a P/E/G ratio of 1.53 and a beta of 1.81. BlackRock has a 12 month low of $365.83 and a 12 month high of $556.37. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.09.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. lifted its holdings in shares of BlackRock by 14.3% during the second quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock valued at $101,000 after purchasing an additional 30 shares in the last quarter. Invictus RG bought a new position in shares of BlackRock during the third quarter valued at $110,000. Harfst & Associates Inc. lifted its holdings in shares of BlackRock by 17.3% during the second quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock valued at $111,000 after purchasing an additional 39 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of BlackRock by 133.3% during the second quarter. Tower Research Capital LLC TRC now owns 280 shares of the asset manager’s stock valued at $118,000 after purchasing an additional 160 shares in the last quarter. Finally, Kings Point Capital Management lifted its holdings in shares of BlackRock by 8.1% during the second quarter. Kings Point Capital Management now owns 295 shares of the asset manager’s stock valued at $125,000 after purchasing an additional 22 shares in the last quarter. 83.54% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Susan Wagner sold 4,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $506.10, for a total value of $2,024,400.00. Following the sale, the director now directly owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeff A. Smith sold 100 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $477.54, for a total value of $47,754.00. The disclosure for this sale can be found here. Corporate insiders own 1.86% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be paid a $2.88 dividend. This is a boost from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.07%. BlackRock’s dividend payout ratio is currently 33.00%.
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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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