BlackRock, Inc. (BLK) Receives Consensus Rating of “Buy” from Brokerages
BlackRock, Inc. (NYSE:BLK) has earned an average recommendation of “Buy” from the fifteen research firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $463.08.
Several research analysts have recently commented on BLK shares. Morgan Stanley reiterated an “overweight” rating and set a $476.00 target price (up from $460.00) on shares of BlackRock in a research note on Tuesday, July 18th. Barclays PLC started coverage on BlackRock in a research note on Friday, September 8th. They issued an “overweight” rating and a $475.00 price target for the company. BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Bank of America Corporation restated a “buy” rating and issued a $450.00 price target on shares of BlackRock in a research note on Monday, June 19th. Finally, Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th.
In other BlackRock news, insider Robert W. Fairbairn sold 3,675 shares of BlackRock stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total value of $1,526,264.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff A. Smith sold 250 shares of BlackRock stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total value of $108,717.50. The disclosure for this sale can be found here. Insiders sold a total of 4,447 shares of company stock valued at $1,855,015 over the last ninety days. Insiders own 1.86% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in BlackRock by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock valued at $3,569,693,000 after acquiring an additional 656,569 shares in the last quarter. Capital World Investors raised its holdings in shares of BlackRock by 12.9% during the 2nd quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after buying an additional 810,667 shares in the last quarter. BlackRock Inc. raised its holdings in shares of BlackRock by 3.2% during the 2nd quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock worth $2,851,570,000 after buying an additional 209,209 shares in the last quarter. State Street Corp raised its holdings in shares of BlackRock by 2.1% during the 1st quarter. State Street Corp now owns 5,445,766 shares of the asset manager’s stock worth $2,088,501,000 after buying an additional 112,993 shares in the last quarter. Finally, UBS Group AG raised its holdings in shares of BlackRock by 40.2% during the 1st quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock worth $650,563,000 after buying an additional 486,502 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.
BlackRock (BLK) opened at 473.93 on Thursday. The firm’s 50-day moving average is $433.75 and its 200 day moving average is $414.44. BlackRock has a 12-month low of $336.84 and a 12-month high of $474.37. The firm has a market cap of $76.87 billion, a PE ratio of 22.75 and a beta of 1.72.
BlackRock (NYSE:BLK) last issued its earnings results on Monday, October 16th. The asset manager reported $5.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.49 by $0.43. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the company posted $5.14 EPS. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. Equities research analysts predict that BlackRock will post $22.01 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were issued a $2.50 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.11%. BlackRock’s dividend payout ratio is presently 47.98%.
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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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