BlackRock, Inc. (BLK) Receives Average Recommendation of “Buy” from Analysts
Shares of BlackRock, Inc. (NYSE:BLK) have been assigned an average recommendation of “Buy” from the fifteen ratings firms that are covering the company, MarketBeat Ratings 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 1 year price target among brokerages that have updated their coverage on the stock in the last year is $438.55.
Several equities analysts recently issued reports on the company. Jefferies Group LLC restated a “hold” rating and set a $440.00 price target on shares of BlackRock in a research note on Friday, August 18th. Bank of America Corporation restated a “buy” rating and set a $450.00 price target on shares of BlackRock in a research note on Monday, June 19th. Morgan Stanley restated an “overweight” rating and set a $476.00 price target (up from $460.00) on shares of BlackRock in a research note on Tuesday, July 18th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price target on the stock in a research note on Tuesday, June 20th. Finally, Deutsche Bank AG boosted their price target on BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research note on Tuesday, July 4th.
In other BlackRock news, insider Robert W. Fairbairn sold 3,675 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total transaction of $1,526,264.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeff A. Smith sold 522 shares of the company’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $421.52, for a total value of $220,033.44. The disclosure for this sale can be found here. Insiders sold a total of 4,447 shares of company stock worth $1,855,015 over the last three months. 1.86% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of BLK. Salem Investment Counselors Inc. lifted its stake in shares of BlackRock by 14.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock valued at $101,000 after purchasing an additional 30 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of BlackRock by 48.9% in the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after purchasing an additional 85 shares during the period. Enterprise Financial Services Corp lifted its stake in shares of BlackRock by 52.5% in the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after purchasing an additional 85 shares during the period. Penserra Capital Management LLC acquired a new position in shares of BlackRock in the 2nd quarter valued at $104,000. Finally, Kings Point Capital Management lifted its stake in shares of BlackRock by 34.5% in the 1st quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock valued at $105,000 after purchasing an additional 70 shares during the period. 82.77% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of BlackRock (BLK) opened at 428.72 on Friday. The firm’s 50-day moving average price is $422.13 and its 200-day moving average price is $406.10. The firm has a market cap of $69.54 billion, a price-to-earnings ratio of 20.58 and a beta of 1.71. BlackRock has a 52 week low of $336.84 and a 52 week high of $442.84.
BlackRock (NYSE:BLK) last issued its quarterly earnings results 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 net margin of 29.92% and a return on equity of 11.74%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the firm earned $4.78 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. Equities research analysts expect that BlackRock will post $21.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be issued a $2.50 dividend. This represents a $10.00 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Thursday, August 31st. BlackRock’s payout ratio is currently 47.98%.
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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