Jefferies Group LLC Reiterates Hold Rating for BlackRock, Inc. (BLK)
BlackRock, Inc. (NYSE:BLK)‘s stock had its “hold” rating reissued by investment analysts at Jefferies Group LLC in a research report issued on Friday. They currently have a $440.00 price target on the asset manager’s stock. Jefferies Group LLC’s price objective suggests a potential upside of 4.78% from the company’s previous close.
Other research analysts have also recently issued reports about the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $460.00 price target (up from $422.00) on shares of BlackRock in a research report on Monday, July 10th. BidaskClub raised shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Deutsche Bank AG reaffirmed a “buy” rating and set a $441.00 price target (down from $449.00) on shares of BlackRock in a research report on Saturday, April 22nd. Credit Suisse Group reaffirmed an “outperform” rating and set a $534.00 price target on shares of BlackRock in a research report on Tuesday, July 18th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and set a $425.00 price target (up from $380.00) on shares of BlackRock in a research report on Wednesday, July 12th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $443.00.
Shares of BlackRock (BLK) traded down 0.53% during midday trading on Friday, reaching $417.70. 339,358 shares of the company traded hands. The stock has a market capitalization of $67.75 billion, a price-to-earnings ratio of 20.05 and a beta of 1.71. The company’s 50 day moving average is $428.26 and its 200-day moving average is $400.96. BlackRock has a 12 month low of $336.84 and a 12 month high of $442.84.
BlackRock (NYSE:BLK) last released its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by $0.15. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the business posted $4.78 earnings per share. BlackRock’s revenue was up 5.7% on a year-over-year basis. Equities research analysts forecast that BlackRock will post $21.85 earnings per share for the current fiscal year.
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In other news, insider Mark Mccombe sold 500 shares of BlackRock stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $405.98, for a total transaction of $202,990.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Susan Wagner sold 2,500 shares of BlackRock stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $414.31, for a total transaction of $1,035,775.00. Following the sale, the director now owns 484,386 shares in the company, valued at approximately $200,685,963.66. The disclosure for this sale can be found here. Insiders have sold 3,772 shares of company stock worth $1,567,516 in the last quarter. Insiders own 1.86% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new stake in BlackRock during the first quarter worth about $108,000. Huntington National Bank raised its stake in BlackRock by 1.3% in the first quarter. Huntington National Bank now owns 98,430 shares of the asset manager’s stock worth $37,749,000 after buying an additional 1,262 shares in the last quarter. Oakbrook Investments LLC purchased a new stake in BlackRock during the first quarter worth about $2,215,000. Rockland Trust Co. raised its stake in BlackRock by 1.0% in the first quarter. Rockland Trust Co. now owns 15,699 shares of the asset manager’s stock worth $6,021,000 after buying an additional 160 shares in the last quarter. Finally, Ledyard National Bank raised its stake in BlackRock by 111.6% in the first quarter. Ledyard National Bank now owns 455 shares of the asset manager’s stock worth $174,000 after buying an additional 240 shares in the last quarter. Institutional investors own 80.33% of the company’s stock.
BlackRock Company Profile
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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