A number of research firms have changed their ratings and price targets for BlackRock (NYSE: BLK):

  • 10/12/2017 – BlackRock had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $500.00 price target on the stock.
  • 10/12/2017 – BlackRock had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $465.00 price target on the stock.
  • 10/12/2017 – BlackRock had its “outperform” rating reaffirmed by analysts at Credit Suisse Group.
  • 10/12/2017 – BlackRock had its price target raised by analysts at J P Morgan Chase & Co to $558.00. They now have an “overweight” rating on the stock.
  • 10/12/2017 – BlackRock had its “market perform” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $475.00 price target on the stock, up previously from $450.00.
  • 10/10/2017 – BlackRock had its price target raised by analysts at Barclays PLC from $475.00 to $500.00. They now have an “overweight” rating on the stock.
  • 10/5/2017 – BlackRock had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $501.00 price target on the stock, up previously from $476.00.
  • 10/3/2017 – BlackRock was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $501.00 price target on the stock. According to Zacks, “BlackRock’s shares have underperformed the industry, in the last twelve months. Nevertheless, the company surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. The company is undertaking initiatives to restructure its actively managed equities business with an aim to meet changing client needs. These along with technological changes will further help top-line growth going forward. Also, it has expanded globally via acquisitions and remains well positioned to capitalize on opportunistic deals, given its strong liquidity position. However, mounting expenses mainly due to continued rise in marketing costs and high dependence on overseas revenues remain major concerns for the company.”
  • 9/28/2017 – BlackRock was upgraded by analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating. They now have a $500.00 price target on the stock, up previously from $440.00.
  • 9/26/2017 – BlackRock had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $440.00 price target on the stock.
  • 9/8/2017 – BlackRock is now covered by analysts at Barclays PLC. They set an “overweight” rating and a $475.00 price target on the stock.
  • 8/29/2017 – BlackRock had its “outperform” rating reaffirmed by analysts at Credit Suisse Group.
  • 8/23/2017 – BlackRock was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

BlackRock, Inc. (BLK) opened at 475.55 on Wednesday. The firm’s 50-day moving average is $437.85 and its 200 day moving average is $416.14. The firm has a market capitalization of $76.85 billion, a P/E ratio of 22.28 and a beta of 1.72. BlackRock, Inc. has a 12 month low of $336.84 and a 12 month high of $485.23.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.49 by $0.43. BlackRock had a net margin of 29.52% and a return on equity of 12.09%. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period last year, the firm earned $5.14 EPS. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. On average, analysts expect that BlackRock, Inc. will post $22.35 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were issued a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Thursday, August 31st. BlackRock’s payout ratio is 46.82%.

In other news, insider Robert W. Fairbairn sold 3,675 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jeff A. Smith sold 250 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,025 shares of company stock valued at $2,162,130. Insiders own 1.86% 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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