BlackRock (NYSE:BLK) PT Raised to $1,077.00 at TD Cowen

BlackRock (NYSE:BLK) had its price objective boosted by TD Cowen from $960.00 to $1,077.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the asset manager’s stock.

BLK has been the subject of several other reports. 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. Evercore ISI boosted their price target on BlackRock from $945.00 to $995.00 and gave the stock an outperform rating in a research report on Friday, October 4th. The Goldman Sachs Group boosted their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a buy rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $912.00 to $937.00 and gave the stock a buy rating in a research report on Thursday, August 15th. Finally, Wells Fargo & Company boosted their price target on BlackRock from $1,000.00 to $1,070.00 and gave the stock an overweight rating in a research report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $972.23.

BlackRock Stock Up 3.6 %

BlackRock stock opened at $990.26 on Thursday. The stock has a market capitalization of $147.15 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. BlackRock has a 12 month low of $596.18 and a 12 month high of $996.29. The business has a 50 day simple moving average of $899.39 and a 200-day simple moving average of $831.33. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the previous year, the business earned $10.91 earnings per share. The business’s revenue was up 14.9% compared to the same quarter last year. On average, analysts anticipate that BlackRock will post 41.73 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Activity

In other news, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the company’s 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 completion of the transaction, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,042 shares of company stock valued at $79,387,117 in the last quarter. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On BlackRock

Hedge funds have recently bought and sold shares of the company. Axxcess Wealth Management LLC lifted its stake in BlackRock by 35.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after acquiring an additional 1,248 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in BlackRock by 3.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock worth $322,810,000 after acquiring an additional 14,477 shares in the last quarter. Oak Harvest Investment Services acquired a new position in BlackRock during the 1st quarter worth about $6,735,000. Cetera Investment Advisers lifted its stake in BlackRock by 219.5% during the 1st quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock worth $36,737,000 after acquiring an additional 30,274 shares in the last quarter. Finally, M&G Plc acquired a new position in BlackRock during the 1st quarter worth about $161,918,000. Institutional investors and hedge funds 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.