JPMorgan Chase reiterated their overweight rating on shares of BlackRock (NYSE:BLK) in a report published on Wednesday, March 14th. The brokerage currently has a $640.00 price target on the asset manager’s stock.
Several other equities research analysts also recently weighed in on BLK. Zacks Investment Research downgraded shares of BlackRock from a buy rating to a hold rating in a research note on Tuesday, March 13th. ValuEngine downgraded shares of BlackRock from a buy rating to a hold rating in a research note on Wednesday, March 7th. Deutsche Bank reduced their target price on shares of BlackRock to $623.00 and set a buy rating on the stock in a research note on Tuesday, March 6th. Argus reissued a buy rating and issued a $620.00 target price (up previously from $520.00) on shares of BlackRock in a research note on Tuesday, January 16th. Finally, Wells Fargo reissued a market perform rating and issued a $555.00 target price (up previously from $535.00) on shares of BlackRock in a research note on Tuesday, January 16th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. BlackRock has a consensus rating of Buy and a consensus price target of $566.31.
BlackRock stock traded down $18.48 during mid-day trading on Wednesday, reaching $519.92. 518,532 shares of the company’s stock traded hands, compared to its average volume of 504,710. The company has a market cap of $86,530.58, a price-to-earnings ratio of 23.01, a PEG ratio of 1.55 and a beta of 1.67. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 0.93. BlackRock has a 12-month low of $375.52 and a 12-month high of $594.52.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.94 by $0.30. BlackRock had a net margin of 39.79% and a return on equity of 12.31%. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the prior year, the firm earned $5.14 earnings per share. BlackRock’s revenue was up 20.0% on a year-over-year basis. equities research analysts anticipate that BlackRock will post 28.43 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th were paid a $2.88 dividend. The ex-dividend date of this dividend was Tuesday, March 6th. 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 yield of 2.22%. BlackRock’s dividend payout ratio (DPR) is 50.97%.
In other BlackRock news, Director Deryck C. Maughan purchased 3,861 shares of BlackRock stock in a transaction on Wednesday, January 17th. The stock was bought at an average cost of $573.44 per share, with a total value of $2,214,051.84. Following the transaction, the director now owns 12,265 shares of the company’s stock, valued at approximately $7,033,241.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert L. Goldstein sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $558.00, for a total transaction of $2,790,000.00. The disclosure for this sale can be found here. Insiders sold a total of 20,961 shares of company stock valued at $11,375,444 over the last quarter. 1.86% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in BLK. Invictus RG acquired a new stake in BlackRock in the 3rd quarter valued at $110,000. Sumitomo Mitsui Financial Group Inc. boosted its position in shares of BlackRock by 1,119.2% during the 3rd quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock valued at $141,000 after acquiring an additional 291 shares during the last quarter. Assetmark Inc. boosted its position in shares of BlackRock by 57.1% during the 4th quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock valued at $143,000 after acquiring an additional 101 shares during the last quarter. Oakworth Capital Inc. boosted its position in shares of BlackRock by 67.6% during the 4th quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock valued at $153,000 after acquiring an additional 123 shares during the last quarter. Finally, Manchester Capital Management LLC acquired a new position in shares of BlackRock during the 3rd quarter valued at about $156,000. 84.77% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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