Keefe, Bruyette & Woods Analysts Give BlackRock Inc. (BLK) a $393.00 Price Target
BlackRock Inc. (NYSE:BLK) received a $393.00 price target from analysts at Keefe, Bruyette & Woods in a report released on Friday. The brokerage currently has a a “hold” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 10.97% from the company’s current price.
A number of other equities analysts have also weighed in on the company. Barclays PLC boosted their price objective on BlackRock from $375.00 to $378.00 and gave the stock an “equal weight” rating in a research note on Thursday. Jefferies Group boosted their price objective on BlackRock from $357.00 to $367.00 and gave the stock a “hold” rating in a research note on Tuesday, October 11th. Wells Fargo & Co. reissued a “market perform” rating on shares of BlackRock in a research note on Monday, October 10th. Citigroup Inc. reissued a “buy” rating and set a $400.00 price objective on shares of BlackRock in a research note on Monday, October 10th. Finally, Deutsche Bank AG boosted their price objective on BlackRock from $412.00 to $418.00 and gave the stock a “buy” rating in a research note on Wednesday, October 5th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. BlackRock currently has a consensus rating of “Buy” and an average target price of $385.26.
Shares of BlackRock (NYSE:BLK) traded up 0.1459% during midday trading on Friday, reaching $355.4279. The company had a trading volume of 319,018 shares. BlackRock has a 52 week low of $280.55 and a 52 week high of $376.65. The company has a market capitalization of $58.45 billion, a P/E ratio of 18.9380 and a beta of 1.46. The company’s 50 day moving average price is $364.07 and its 200-day moving average price is $357.11.
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BlackRock (NYSE:BLK) last released 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 company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the firm posted $4.96 EPS. On average, equities research analysts predict that BlackRock will post $19.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were given a dividend of $2.29 per share. The ex-dividend date was Wednesday, August 31st. This represents a $9.16 annualized dividend and a dividend yield of 2.59%. BlackRock’s dividend payout ratio is currently 48.83%.
In other news, insider Ryan Stork sold 1,400 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $367.24, for a total transaction of $514,136.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Grosfeld sold 10,911 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $371.98, for a total value of $4,058,673.78. Following the transaction, the director now directly owns 514,402 shares of the company’s stock, valued at $191,347,255.96. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLK. Vanguard Group Inc. boosted 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 worth $2,509,417,000 after buying an additional 150,093 shares during the period. FMR LLC boosted 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 worth $1,417,958,000 after buying an additional 65,452 shares during the period. JPMorgan Chase & Co. boosted 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 worth $1,155,126,000 after buying an additional 219,654 shares during the period. Capital World Investors boosted 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 worth $1,124,255,000 after buying an additional 31,191 shares during the period. Finally, Ameriprise Financial Inc. boosted 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 worth $643,336,000 after buying an additional 10,918 shares during the period. 81.57% of the stock is owned by institutional investors and hedge funds.
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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