Wells Fargo & Co reaffirmed their market perform rating on shares of BlackRock (NYSE:BLK) in a report issued on Tuesday. Wells Fargo & Co currently has a $555.00 price objective on the asset manager’s stock, up from their prior price objective of $535.00.
Several other equities analysts have also weighed in on the stock. Credit Suisse Group reaffirmed an outperform rating on shares of BlackRock in a research report on Thursday, October 12th. Barclays raised their price objective on shares of BlackRock from $475.00 to $500.00 and gave the company an overweight rating in a research report on Tuesday, October 10th. Morgan Stanley reaffirmed an overweight rating and set a $501.00 price objective (up previously from $476.00) on shares of BlackRock in a research report on Thursday, October 5th. Goldman Sachs Group raised shares of BlackRock from a neutral rating to a buy rating and raised their price objective for the company from $440.00 to $500.00 in a research report on Thursday, September 28th. Finally, Zacks Investment Research lowered shares of BlackRock from a buy rating to a hold rating in a research report on Tuesday, December 5th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $547.92.
BlackRock (NYSE BLK) traded up $7.47 during mid-day trading on Tuesday, hitting $563.00. 1,370,500 shares of the company traded hands, compared to its average volume of 651,950. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89. The firm has a market capitalization of $92,170.00, a PE ratio of 18.58, a P/E/G ratio of 1.53 and a beta of 1.81. BlackRock has a twelve month low of $365.83 and a twelve month high of $571.82.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, topping the consensus estimate of $5.94 by $0.30. The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period last year, the company posted $5.14 earnings per share. analysts predict that BlackRock will post 27.83 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be given a dividend of $2.88 per share. This represents a $11.52 annualized dividend and a yield of 2.05%. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio (DPR) is presently 33.00%.
In other news, insider Jeff A. Smith sold 425 shares of BlackRock stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $565.96, for a total value of $240,533.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Susan Wagner sold 4,000 shares of BlackRock stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the completion of the transaction, the director now directly owns 481,915 shares in the company, valued at approximately $243,897,181.50. The disclosure for this sale can be found here. In the last three months, insiders sold 4,525 shares of company stock worth $2,312,687. Insiders own 1.86% of the company’s stock.
Several large investors have recently added to or reduced their stakes in BLK. Salem Investment Counselors Inc. raised its position in shares of BlackRock by 14.3% in 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 during the period. Invictus RG acquired a new stake in shares of BlackRock in the third quarter worth $110,000. Harfst & Associates Inc. grew its stake in shares of BlackRock by 17.3% in the second quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock worth $111,000 after acquiring an additional 39 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of BlackRock by 133.3% in the second quarter. Tower Research Capital LLC TRC now owns 280 shares of the asset manager’s stock worth $118,000 after acquiring an additional 160 shares during the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. grew its stake in shares of BlackRock by 1,119.2% in the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock worth $141,000 after acquiring an additional 291 shares during the last quarter. 83.55% of the stock is currently owned by institutional investors.
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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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