BlackRock (NYSE:BLK) had its price objective boosted by Credit Suisse Group from $672.00 to $678.00 in a research note published on Thursday morning. The brokerage currently has an outperform rating on the asset manager’s stock.
BLK has been the subject of a number of other reports. Zacks Investment Research raised BlackRock from a hold rating to a strong-buy rating and set a $614.00 target price for the company in a research report on Thursday, January 11th. Citigroup upped their target price on BlackRock to $625.00 and gave the company a buy rating in a research report on Tuesday, January 16th. Jefferies Group upped their target price on BlackRock to $565.00 and gave the company a hold rating in a research report on Monday, January 15th. ValuEngine cut BlackRock from a buy rating to a hold rating in a research report on Wednesday, March 7th. Finally, Wells Fargo reissued a market perform rating and issued a $555.00 target price (up from $535.00) on shares of BlackRock in a research report on Tuesday, January 16th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. BlackRock currently has an average rating of Buy and an average target price of $566.31.
NYSE:BLK opened at $519.92 on Thursday. The stock has a market cap 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 1 year low of $375.52 and a 1 year 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 data on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 return on equity of 12.31% and a net margin of 39.79%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.14 EPS. research analysts forecast that BlackRock will post 28.32 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th were paid a dividend of $2.88 per share. The ex-dividend date of this dividend was Tuesday, March 6th. This is an increase from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 annualized dividend and a yield of 2.22%. BlackRock’s dividend payout ratio is currently 50.97%.
In other BlackRock news, insider Mark Mccombe sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $520.64, for a total transaction of $1,041,280.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ryan Stork sold 7,136 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $543.50, for a total value of $3,878,416.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,961 shares of company stock valued at $11,375,444. 1.86% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its stake in BlackRock by 4.4% during the 4th quarter. BlackRock Inc. now owns 7,255,797 shares of the asset manager’s stock valued at $3,727,377,000 after acquiring an additional 307,213 shares during the last quarter. Clearbridge Investments LLC raised its stake in BlackRock by 2.6% during the 4th quarter. Clearbridge Investments LLC now owns 1,855,275 shares of the asset manager’s stock valued at $953,073,000 after acquiring an additional 47,692 shares during the last quarter. Geode Capital Management LLC raised its stake in BlackRock by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 1,260,724 shares of the asset manager’s stock valued at $646,251,000 after acquiring an additional 46,914 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in BlackRock by 31.6% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 442,328 shares of the asset manager’s stock valued at $227,228,000 after acquiring an additional 106,315 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in BlackRock by 4.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 437,350 shares of the asset manager’s stock valued at $224,672,000 after acquiring an additional 19,152 shares during the last quarter. 84.77% of the stock is 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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