BlackRock Inc. (BLK) Stock Rating Reaffirmed by Wells Fargo & Co.
BlackRock Inc. (NYSE:BLK)‘s stock had its “market perform” rating reaffirmed by stock analysts at Wells Fargo & Co. in a research report issued on Monday.
A number of other equities research analysts also recently issued reports on BLK. Barclays PLC restated an “equal weight” rating and set a $363.00 price objective on shares of BlackRock in a research report on Wednesday, June 15th. Citigroup Inc. reaffirmed a “buy” rating on shares of BlackRock in a research note on Thursday, June 16th. Deutsche Bank AG cut their target price on BlackRock from $386.00 to $383.00 and set a “buy” rating on the stock in a research note on Thursday, June 16th. Zacks Investment Research cut BlackRock from a “hold” rating to a “sell” rating in a research note on Monday, June 20th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of BlackRock in a research note on Tuesday, July 5th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $382.56.
BlackRock (NYSE:BLK) opened at 360.16 on Monday. BlackRock has a 52 week low of $280.55 and a 52 week high of $376.65. The firm’s 50-day moving average price is $366.57 and its 200-day moving average price is $356.70. The stock has a market cap of $59.23 billion, a PE ratio of 19.19 and a beta of 1.46.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/10/blackrock-inc-blk-stock-rating-reaffirmed-by-wells-fargo-co.html
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Thursday, July 14th. The company reported $4.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by $0.04. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter last year, the company earned $4.96 earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. Equities analysts predict that BlackRock will post $19.23 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were paid a dividend of $2.29 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $9.16 dividend on an annualized basis and a dividend yield of 2.56%. BlackRock’s payout ratio is currently 48.83%.
In other BlackRock news, Director Susan Wagner sold 79,346 shares of BlackRock stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $366.35, for a total transaction of $29,068,407.10. Following the completion of the transaction, the director now owns 587,365 shares in the company, valued at approximately $215,181,167.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan Stork sold 1,400 shares of BlackRock stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $367.24, for a total value of $514,136.00. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in BLK. Ropes Wealth Advisors LLC boosted its stake in BlackRock by 0.3% in the second quarter. Ropes Wealth Advisors LLC now owns 388 shares of the company’s stock worth $133,000 after buying an additional 1 shares during the period. HBK Sorce Advisory LLC boosted its stake in BlackRock by 0.8% in the second quarter. HBK Sorce Advisory LLC now owns 608 shares of the company’s stock worth $208,000 after buying an additional 5 shares during the period. Burke & Herbert Bank & Trust Co. boosted its stake in BlackRock by 0.5% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 1,249 shares of the company’s stock worth $428,000 after buying an additional 6 shares during the period. Private Bank & Trust Co. boosted its stake in BlackRock by 0.6% in the second quarter. Private Bank & Trust Co. now owns 1,331 shares of the company’s stock worth $456,000 after buying an additional 8 shares during the period. Finally, Dorsey & Whitney Trust CO LLC boosted its stake in BlackRock by 0.7% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 1,655 shares of the company’s stock worth $567,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 81.58% of the company’s stock.
BlackRock Company Profile
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
Receive News & Ratings for BlackRock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock Inc. and related companies with MarketBeat.com's FREE daily email newsletter.