BlackRock, Inc. (NYSE:BLK) Receives $883.47 Average Target Price from Analysts

BlackRock, Inc. (NYSE:BLK) has received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $902.13.

A number of research analysts recently issued reports on the stock. Barclays lifted their price target on shares of BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Evercore ISI boosted their target price on shares of BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Argus raised their price target on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft upped their price objective on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Morgan Stanley cut their target price on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th.

BlackRock Stock Up 0.1 %

BlackRock stock opened at $885.73 on Wednesday. The firm has a market capitalization of $131.20 billion, a P/E ratio of 22.51, a P/E/G ratio of 1.92 and a beta of 1.30. The stock’s fifty day simple moving average is $857.98 and its 200-day simple moving average is $814.37. BlackRock has a twelve month low of $596.18 and a twelve month high of $903.46. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter last year, the company earned $9.28 EPS. BlackRock’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities analysts expect that BlackRock will post 41.34 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a $5.10 dividend. The ex-dividend date is Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.30%. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

Insider Transactions at BlackRock

In related news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Pamela Daley sold 1,531 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,407,041.60. The disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock worth $79,387,117 over the last 90 days. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. XML Financial LLC grew its stake in shares of BlackRock by 2.6% during the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after purchasing an additional 12 shares during the period. Hexagon Capital Partners LLC grew its position in BlackRock by 6.1% during the second quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock worth $177,000 after buying an additional 13 shares during the period. Forza Wealth Management LLC increased its holdings in BlackRock by 1.3% in the second quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock valued at $822,000 after buying an additional 13 shares in the last quarter. Rosenberg Matthew Hamilton lifted its position in shares of BlackRock by 4.4% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock valued at $243,000 after acquiring an additional 13 shares during the period. Finally, Tortoise Investment Management LLC boosted its stake in shares of BlackRock by 17.1% during the 2nd quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock worth $70,000 after acquiring an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

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.