BlackRock Inc. (BLK) Price Target Raised to $367.00
BlackRock Inc. (NYSE:BLK) had its price objective upped by analysts at Jefferies Group from $357.00 to $367.00 in a report issued on Tuesday. The firm presently has a “hold” rating on the stock. Jefferies Group’s price objective would indicate a potential upside of 2.29% from the stock’s current price.
Several other equities research analysts have also commented on the company. Wells Fargo & Co. reissued a “market perform” rating on shares of BlackRock in a research note on Monday. Citigroup Inc. reissued a “buy” rating and set a $400.00 price target on shares of BlackRock in a research note on Monday. Deutsche Bank AG upped their target price on BlackRock from $412.00 to $418.00 and gave the company a “buy” rating in a research note on Wednesday, October 5th. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $410.00 target price on the stock in a research note on Monday, September 19th. Finally, Barclays PLC upped their target price on BlackRock from $364.00 to $375.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 24th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. BlackRock has an average rating of “Buy” and an average target price of $383.19.
BlackRock (NYSE:BLK) traded down 2.07% on Tuesday, hitting $351.39. The stock had a trading volume of 230,886 shares. The firm has a market cap of $57.79 billion, a price-to-earnings ratio of 18.72 and a beta of 1.46. The company’s 50-day moving average price is $366.19 and its 200 day moving average price is $357.12. BlackRock has a one year low of $280.55 and a one year high of $376.65.
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BlackRock (NYSE:BLK) last announced its quarterly earnings results on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.82 by $0.04. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. BlackRock’s revenue was down 3.5% compared to the same quarter last year. During the same period last year, the firm earned $4.96 EPS. Analysts expect that BlackRock will post $19.23 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 2nd were given 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 yield of 2.55%. BlackRock’s dividend payout ratio (DPR) is 48.83%.
In related news, insider Ryan Stork sold 1,400 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $367.24, for a total transaction of $514,136.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J. Richard Kushel sold 8,000 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $356.55, for a total transaction of $2,852,400.00. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Sun Life Financial INC purchased a new position in BlackRock during the first quarter worth $91,954,000. Feltz Wealth PLAN Inc. purchased a new position in BlackRock during the second quarter worth $126,000. Mycio Wealth Partners LLC boosted its position in BlackRock by 3.3% in the second quarter. Mycio Wealth Partners LLC now owns 379 shares of the company’s stock worth $130,000 after buying an additional 12 shares during the last quarter. Ropes Wealth Advisors LLC boosted its position in BlackRock by 35.3% in the first quarter. Ropes Wealth Advisors LLC now owns 387 shares of the company’s stock worth $132,000 after buying an additional 101 shares during the last quarter. Finally, Citizens Financial Group Inc RI boosted its position in BlackRock by 16.1% in the first quarter. Citizens Financial Group Inc RI now owns 389 shares of the company’s stock worth $133,000 after buying an additional 54 shares during the last quarter. 81.58% of the stock is owned by hedge funds and other institutional investors.
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.
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