BlackRock, Inc. (BLK) Given Average Rating of “Buy” by Brokerages
BlackRock, Inc. (NYSE:BLK) has received a consensus rating of “Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $439.92.
Several research analysts have recently weighed in on the stock. Jefferies Group LLC restated a “hold” rating and issued a $440.00 target price on shares of BlackRock in a research note on Friday, August 18th. Deutsche Bank AG upped their target price on shares of BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research note on Tuesday, July 4th. BidaskClub downgraded shares of BlackRock from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price for the company in a research note on Tuesday, June 20th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $534.00 target price on shares of BlackRock in a research note on Tuesday, July 18th.
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Shares of BlackRock (NYSE BLK) opened at 421.37 on Wednesday. The stock has a 50 day moving average of $427.87 and a 200-day moving average of $401.97. The firm has a market capitalization of $68.35 billion, a price-to-earnings ratio of 20.23 and a beta of 1.71. BlackRock has a one year low of $336.84 and a one year high of $442.83.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the prior year, the firm earned $4.78 earnings per share. BlackRock’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities analysts anticipate that BlackRock will post $21.85 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be issued a $2.50 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.37%. BlackRock’s dividend payout ratio is presently 47.98%.
In related news, insider Mark Mccombe sold 500 shares of the company’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $405.98, for a total value of $202,990.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan Wagner sold 2,500 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 484,386 shares in the company, valued at $200,685,963.66. The disclosure for this sale can be found here. Insiders sold 3,772 shares of company stock worth $1,567,516 over the last ninety days. 1.86% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Nationwide Fund Advisors boosted its stake in BlackRock by 1.7% in the first quarter. Nationwide Fund Advisors now owns 34,275 shares of the asset manager’s stock valued at $13,145,000 after buying an additional 565 shares in the last quarter. CAPROCK Group Inc. boosted its stake in shares of BlackRock by 18.8% in the first quarter. CAPROCK Group Inc. now owns 935 shares of the asset manager’s stock worth $359,000 after buying an additional 148 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in shares of BlackRock by 58.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 9,717 shares of the asset manager’s stock worth $3,727,000 after buying an additional 3,569 shares during the period. Naples Global Advisors LLC boosted its stake in shares of BlackRock by 3.0% in the first quarter. Naples Global Advisors LLC now owns 5,101 shares of the asset manager’s stock worth $1,956,000 after buying an additional 150 shares during the period. Finally, Windward Capital Management Co. CA boosted its stake in shares of BlackRock by 1.2% in the first quarter. Windward Capital Management Co. CA now owns 45,994 shares of the asset manager’s stock worth $17,639,000 after buying an additional 542 shares during the period. 80.33% of the stock is currently owned by hedge funds and other institutional investors.
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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