BlackRock Inc. (BLK) PT Raised to $378.00 at Barclays PLC
BlackRock Inc. (NYSE:BLK) had its price target raised by stock analysts at Barclays PLC from $375.00 to $378.00 in a research report issued to clients and investors on Thursday. The firm currently has an “equal weight” rating on the stock. Barclays PLC’s price target indicates a potential upside of 7.66% from the stock’s previous close.
Several other equities research analysts have also issued reports on the stock. Jefferies Group lifted their price target on shares of BlackRock from $357.00 to $367.00 and gave the company a “hold” rating in a report on Tuesday. Wells Fargo & Co. reissued a “market perform” rating on shares of BlackRock in a report on Monday. Citigroup Inc. reissued a “buy” rating and set a $400.00 target price on shares of BlackRock in a report on Monday. Deutsche Bank AG boosted their target price on shares of BlackRock from $412.00 to $418.00 and gave the stock a “buy” rating in a report on Wednesday, October 5th. Finally, Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $410.00 target price on the stock in a report on Monday, September 19th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $383.37.
Shares of BlackRock (NYSE:BLK) traded down 0.44% during midday trading on Thursday, hitting $349.57. 342,055 shares of the company were exchanged. The firm has a market capitalization of $57.49 billion, a price-to-earnings ratio of 18.63 and a beta of 1.46. The firm’s 50 day moving average price is $365.02 and its 200 day moving average price is $357.04. 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by $0.04. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.81 billion. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm posted $4.96 earnings per share. Analysts forecast that BlackRock will post $19.23 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were issued a dividend of $2.29 per share. The ex-dividend date was Wednesday, August 31st. This represents a $9.16 annualized dividend and a yield of 2.61%. BlackRock’s payout ratio is 48.83%.
In other news, insider Ryan Stork sold 1,400 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan Wagner sold 79,346 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $366.35, for a total transaction of $29,068,407.10. Following the completion of the sale, the director now owns 587,365 shares of the company’s stock, valued at approximately $215,181,167.75. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in BLK. Vanguard Group Inc. increased its stake in shares of BlackRock by 2.1% in the second quarter. Vanguard Group Inc. now owns 7,326,122 shares of the company’s stock valued at $2,509,417,000 after buying an additional 150,093 shares in the last quarter. FMR LLC increased its stake in shares of BlackRock by 1.6% in the second quarter. FMR LLC now owns 4,139,658 shares of the company’s stock valued at $1,417,958,000 after buying an additional 65,452 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of BlackRock by 7.0% in the second quarter. JPMorgan Chase & Co. now owns 3,372,334 shares of the company’s stock valued at $1,155,126,000 after buying an additional 219,654 shares in the last quarter. Capital World Investors increased its stake in shares of BlackRock by 1.0% in the second quarter. Capital World Investors now owns 3,282,208 shares of the company’s stock valued at $1,124,255,000 after buying an additional 31,191 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of BlackRock by 0.6% in the second quarter. Ameriprise Financial Inc. now owns 1,878,497 shares of the company’s stock valued at $643,336,000 after buying an additional 10,918 shares in the last quarter. 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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