BlackRock (NYSE:BLK) had its price objective increased by Citigroup to $625.00 in a research report report published on Tuesday morning, The Fly reports. The brokerage currently has a buy rating on the asset manager’s stock.
BLK has been the subject of several other reports. Goldman Sachs Group raised 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 note on Thursday, September 28th. Wells Fargo & Co reaffirmed a market perform rating and issued a $475.00 price objective (up from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. Zacks Investment Research raised BlackRock from a hold rating to a buy rating and set a $501.00 price objective for the company in a research note on Tuesday, October 3rd. Jefferies Group reaffirmed a hold rating and issued a $440.00 price objective on shares of BlackRock in a research note on Tuesday, September 26th. Finally, Credit Suisse Group reaffirmed a buy rating and issued a $680.00 price objective on shares of BlackRock in a research note on Friday, January 12th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $547.92.
Shares of BlackRock (NYSE BLK) traded up $5.96 during mid-day trading on Tuesday, hitting $585.18. The stock had a trading volume of 210,392 shares, compared to its average volume of 693,600. The stock has a market cap of $93,580.00, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 1.55 and a beta of 1.81. BlackRock has a fifty-two week low of $365.83 and a fifty-two week high of $584.21. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.09.
BlackRock (NYSE:BLK) last issued its earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.94 by $0.30. The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.33 billion. BlackRock had a return on equity of 12.54% and a net margin of 39.79%. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the prior year, the business posted $5.14 EPS. analysts expect that BlackRock will post 28.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th will be given a dividend of $2.88 per share. This is an increase from BlackRock’s previous quarterly dividend of $2.50. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $11.52 annualized dividend and a yield of 1.97%. BlackRock’s dividend payout ratio (DPR) is presently 33.00%.
In other BlackRock news, Director Susan Wagner sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was 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 owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeff A. Smith sold 425 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $565.96, for a total value of $240,533.00. The disclosure for this sale can be found here. Insiders have sold 4,525 shares of company stock valued at $2,312,687 in the last three months. 1.86% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. boosted 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 worth $101,000 after purchasing an additional 30 shares during the last quarter. Invictus RG acquired a new stake in shares of BlackRock during the third quarter worth $110,000. Harfst & Associates Inc. boosted 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 worth $111,000 after purchasing an additional 39 shares during the last quarter. Tower Research Capital LLC TRC boosted 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 worth $118,000 after purchasing an additional 160 shares during the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. boosted its holdings in shares of BlackRock by 1,119.2% during the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock worth $141,000 after purchasing an additional 291 shares during the last quarter. 83.55% of the stock is 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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