BlackRock (NYSE:BLK) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of BlackRock (NYSE:BLK) in a report issued on Sunday. The firm issued a hold rating on the asset manager’s stock.

Several other equities research analysts have also recently commented on the company. Citigroup boosted their price target on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Barclays boosted their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group raised their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. UBS Group reduced their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Morgan Stanley increased their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $991.46.

BlackRock Stock Up 0.5 %

BLK stock opened at $1,007.02 on Friday. The company has a 50 day moving average of $915.45 and a two-hundred day moving average of $837.66. The company has a market cap of $149.64 billion, a price-to-earnings ratio of 25.59, a PEG 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 $1,032.00. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

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

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were given a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Transactions at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of the firm’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 sale, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. 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 three months. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BLK. Onyx Bridge Wealth Group LLC lifted its holdings in shares of BlackRock by 3.5% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after acquiring an additional 11 shares during the period. XML Financial LLC lifted its stake in BlackRock by 2.6% during the second 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. Pine Haven Investment Counsel Inc grew its stake in shares of BlackRock by 1.3% in the 3rd quarter. Pine Haven Investment Counsel Inc now owns 937 shares of the asset manager’s stock valued at $890,000 after purchasing an additional 12 shares during the period. Hexagon Capital Partners LLC grew its stake in shares of BlackRock by 6.1% in the 2nd quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock valued at $177,000 after purchasing an additional 13 shares during the period. Finally, Forza Wealth Management LLC raised its holdings in shares of BlackRock by 1.3% in the 2nd quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock worth $822,000 after buying an additional 13 shares in the last quarter. 80.69% of the stock is 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.