BlackRock (NYSE:BLK) Price Target Lowered to $1,160.00 at Barclays

BlackRock (NYSE:BLK) had its price target trimmed by Barclays from $1,220.00 to $1,160.00 in a report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the asset manager’s stock.

BLK has been the subject of several other research reports. Citigroup raised their price objective on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Morgan Stanley increased their target price on BlackRock from $1,245.00 to $1,261.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. StockNews.com assumed coverage on BlackRock in a report on Wednesday, January 8th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. raised their price objective on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Finally, Evercore ISI raised their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,083.92.

BlackRock Stock Performance

NYSE:BLK opened at $954.19 on Monday. The company has a market capitalization of $147.78 billion, a PE ratio of 23.55, a P/E/G ratio of 1.92 and a beta of 1.28. The company has a 50 day simple moving average of $1,030.22 and a two-hundred day simple moving average of $942.57. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.91 EPS. Research analysts anticipate that BlackRock will post 43.18 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were given a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s dividend payout ratio is presently 50.35%.

Insider Buying and Selling

In related news, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BlackRock

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Marino Stram & Associates LLC increased its position in shares of BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after buying an additional 10 shares during the period. Fidelity D & D Bancorp Inc. increased its position in shares of BlackRock by 3.7% in the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock worth $263,000 after purchasing an additional 10 shares during the last quarter. Onyx Bridge Wealth Group LLC increased its position in shares of BlackRock by 3.5% in the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after purchasing an additional 11 shares during the last quarter. Ballentine Partners LLC increased its position in shares of BlackRock by 0.3% in the third quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock worth $3,251,000 after purchasing an additional 11 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in BlackRock by 0.4% in the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after buying an additional 11 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

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.