BlackRock (NYSE:BLK) has received a consensus recommendation of “Buy” from the fifteen ratings firms that are presently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $562.33.
Several research firms have recently weighed in on BLK. Deutsche Bank reduced their price target on shares of BlackRock from $623.00 to $614.00 and set a “buy” rating for the company in a report on Friday. Zacks Investment Research upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a report on Thursday, March 29th. Credit Suisse Group upped their price target on shares of BlackRock from $672.00 to $678.00 and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase restated an “overweight” rating and set a $640.00 target price on shares of BlackRock in a report on Wednesday, March 14th. Finally, ValuEngine cut shares of BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th.
Shares of BlackRock stock traded down $18.48 on Thursday, hitting $519.92. The company had a trading volume of 518,536 shares, compared to its average volume of 504,710. The stock has a market capitalization of $83,560.50, a PE ratio of 23.01, a price-to-earnings-growth ratio of 1.50 and a beta of 1.67. BlackRock has a twelve month low of $375.52 and a twelve month high of $594.52. 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 (NYSE:BLK) last released its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.94 by $0.30. The company 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 12.31%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.14 earnings per share. equities analysts anticipate that BlackRock will post 28.32 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th were issued a dividend of $2.88 per share. This is a boost from BlackRock’s previous quarterly dividend of $2.50. The ex-dividend date of this dividend was Tuesday, March 6th. This represents a $11.52 annualized dividend and a yield of 2.22%. BlackRock’s dividend payout ratio is presently 50.97%.
In other BlackRock news, insider Mark Mccombe sold 2,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $520.64, for a total value of $1,041,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeff A. Smith sold 2,500 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $526.93, for a total transaction of $1,317,325.00. The disclosure for this sale can be found here. Insiders have sold 20,961 shares of company stock valued at $11,375,444 in the last 90 days. 1.86% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Somerset Trust Co lifted its stake in BlackRock by 2.7% in the fourth quarter. Somerset Trust Co now owns 3,449 shares of the asset manager’s stock valued at $1,772,000 after acquiring an additional 90 shares during the last quarter. Naples Global Advisors LLC lifted its stake in BlackRock by 1.7% in the fourth quarter. Naples Global Advisors LLC now owns 5,495 shares of the asset manager’s stock valued at $2,823,000 after acquiring an additional 93 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in BlackRock by 10.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 960 shares of the asset manager’s stock valued at $493,000 after acquiring an additional 93 shares during the last quarter. Lau Associates LLC raised its position in shares of BlackRock by 10.3% in the fourth quarter. Lau Associates LLC now owns 1,026 shares of the asset manager’s stock valued at $527,000 after purchasing an additional 96 shares during the period. Finally, Assetmark Inc. raised its position in shares of BlackRock by 57.1% in the fourth quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock valued at $143,000 after purchasing an additional 101 shares during the period. Hedge funds and other institutional investors own 84.77% of the company’s stock.
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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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