Barclays PLC Boosts BlackRock Inc. (BLK) Price Target to $378.00
BlackRock Inc. (NYSE:BLK) had its price objective lifted by equities researchers at Barclays PLC from $375.00 to $378.00 in a research note issued on Thursday. The brokerage presently has an “equal weight” rating on the stock. Barclays PLC’s target price would suggest a potential upside of 8.20% from the company’s current price.
Other equities analysts have also recently issued reports about the company. Deutsche Bank AG reissued a “buy” rating and set a $392.00 price objective (up from $372.00) on shares of BlackRock in a report on Sunday, July 10th. Jefferies Group reissued a “hold” rating on shares of BlackRock in a report on Friday, August 5th. Zacks Investment Research raised BlackRock from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Keefe, Bruyette & Woods cut BlackRock from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $390.00 to $383.00 in a report on Friday, July 15th. Finally, Vetr cut BlackRock from a “buy” rating to a “hold” rating and set a $382.97 price objective on the stock. in a report on Tuesday, August 16th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $383.37.
BlackRock (NYSE:BLK) traded down 0.50% during trading on Thursday, hitting $349.34. The company’s stock had a trading volume of 576,439 shares. BlackRock has a 12 month low of $280.55 and a 12 month high of $376.65. The firm has a market cap of $57.45 billion, a P/E ratio of 18.61 and a beta of 1.46. The firm has a 50 day moving average of $365.02 and a 200 day moving average of $357.04.
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BlackRock (NYSE:BLK) last announced its quarterly earnings data on Thursday, July 14th. The company reported $4.78 earnings per share for the quarter, missing the Zacks’ 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 net margin of 28.12% and a return on equity of 11.07%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $4.96 earnings per share. Equities research analysts predict that BlackRock will post $19.23 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were issued a $2.29 dividend. This represents a $9.16 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Wednesday, August 31st. BlackRock’s dividend payout ratio (DPR) is 48.83%.
In other news, Director James Grosfeld sold 25,379 shares of the business’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $374.22, for a total value of $9,497,329.38. Following the completion of the transaction, the director now owns 514,402 shares in the company, valued at $192,499,516.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 8,000 shares of the business’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $356.55, for a total value of $2,852,400.00. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. NN Investment Partners Holdings N.V. acquired a new position in BlackRock during the first quarter valued at $274,000. Bessemer Group Inc. boosted its position in BlackRock by 628.0% in the first quarter. Bessemer Group Inc. now owns 2,155 shares of the company’s stock valued at $734,000 after buying an additional 1,859 shares in 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 valued at $132,000 after buying an additional 101 shares in the last quarter. Ancora Inverness LLC boosted its position in BlackRock by 91.8% in the first quarter. Ancora Inverness LLC now owns 1,218 shares of the company’s stock valued at $415,000 after buying an additional 583 shares in the last quarter. Finally, Aviva PLC boosted its position in BlackRock by 0.9% in the first quarter. Aviva PLC now owns 70,817 shares of the company’s stock valued at $24,118,000 after buying an additional 601 shares in the last quarter. Hedge funds and other institutional investors own 81.58% of the company’s stock.
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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