Evercore ISI Raises BlackRock (NYSE:BLK) Price Target to $1,040.00

BlackRock (NYSE:BLK) had its price target boosted by Evercore ISI from $995.00 to $1,040.00 in a report released on Monday, Benzinga reports. The brokerage currently has an outperform rating on the asset manager’s stock.

Several other research analysts have also weighed in on the company. Keefe, Bruyette & Woods boosted their price target on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. UBS Group decreased their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. JPMorgan Chase & Co. increased their target price on BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Citigroup increased their target price on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Barclays raised their price objective on BlackRock from $990.00 to $1,010.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $991.46.

BlackRock Stock Down 1.4 %

Shares of BLK stock opened at $1,001.88 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The stock has a fifty day moving average price of $912.43 and a 200 day moving average price of $836.11. BlackRock has a one year low of $596.18 and a one year high of $1,032.00. The stock has a market cap of $148.88 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter last year, the business earned $10.91 earnings per share. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Analysts predict that BlackRock will post 41.73 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a dividend of $5.10 per share. The ex-dividend date was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.04%. BlackRock’s payout ratio is 51.84%.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,832,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,042 shares of company stock worth $56,857,777 over the last ninety days. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of BlackRock

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Redmont Wealth Advisors LLC purchased a new position in shares of BlackRock in the 1st quarter worth $27,000. Fairscale Capital LLC bought a new position in BlackRock in the 2nd quarter worth $31,000. Lam Group Inc. bought a new position in BlackRock in the 1st quarter worth $33,000. Fairman Group LLC bought a new position in BlackRock in the 4th quarter worth $35,000. Finally, Chilton Capital Management LLC bought a new stake in BlackRock during the first quarter valued at about $38,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

About BlackRock

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.