BlackRock, Inc. (BLK) Rating Increased to Strong-Buy at BidaskClub
BlackRock, Inc. (NYSE:BLK) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.
Other equities analysts also recently issued reports about the stock. Morgan Stanley reissued a “buy” rating on shares of BlackRock in a research note on Saturday, March 18th. Bank of America Corporation restated a “buy” rating and issued a $450.00 price objective on shares of BlackRock in a report on Monday, June 19th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price objective on the stock in a report on Tuesday, June 20th. Jefferies Group LLC restated a “hold” rating and issued a $387.00 price objective on shares of BlackRock in a report on Wednesday, May 17th. Finally, Deutsche Bank AG upped their price objective on shares of BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $420.63.
Shares of BlackRock (NYSE:BLK) traded down 0.20% during mid-day trading on Friday, hitting $422.41. The stock had a trading volume of 501,996 shares. The firm has a market capitalization of $68.80 billion, a price-to-earnings ratio of 20.75 and a beta of 1.67. The stock’s 50-day moving average is $410.09 and its 200 day moving average is $390.31. BlackRock has a 1-year low of $329.58 and a 1-year high of $430.84.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, April 19th. The asset manager reported $5.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.94 by $0.31. BlackRock had a net margin of 29.74% and a return on equity of 11.62%. The company had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the prior year, the firm earned $4.25 earnings per share. BlackRock’s revenue was up 7.6% on a year-over-year basis. Equities research analysts predict that BlackRock will post $21.75 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Monday, June 5th were given a dividend of $2.50 per share. The ex-dividend date was Thursday, June 1st. This represents a $10.00 dividend on an annualized basis and a yield of 2.37%. BlackRock’s dividend payout ratio (DPR) is 49.14%.
In other BlackRock news, Director Susan Wagner sold 2,500 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $414.31, for a total value of $1,035,775.00. Following the transaction, the director now directly owns 484,386 shares in the company, valued at $200,685,963.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Mccombe sold 500 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $405.98, for a total transaction of $202,990.00. The disclosure for this sale can be found here. 1.86% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its position in BlackRock by 44.1% in the first quarter. Fisher Asset Management LLC now owns 108,774 shares of the asset manager’s stock valued at $41,716,000 after buying an additional 33,283 shares during the last quarter. Stifel Financial Corp increased its position in BlackRock by 19.1% in the first quarter. Stifel Financial Corp now owns 170,590 shares of the asset manager’s stock valued at $65,487,000 after buying an additional 27,321 shares during the last quarter. KBC Group NV increased its position in BlackRock by 35.1% in the first quarter. KBC Group NV now owns 50,282 shares of the asset manager’s stock valued at $19,284,000 after buying an additional 13,065 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in BlackRock by 2.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 113,736 shares of the asset manager’s stock valued at $43,619,000 after buying an additional 2,805 shares during the last quarter. Finally, Norges Bank acquired a new position in BlackRock during the fourth quarter valued at $3,254,686,000. Institutional investors and hedge funds own 81.93% of the company’s stock.
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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