BlackRock, Inc. (BLK) Given Consensus Rating of “Buy” by Brokerages

BlackRock, Inc. (NYSE:BLK) has been given an average recommendation of “Buy” by the fourteen research firms that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $547.92.

Several equities analysts recently commented on BLK shares. Credit Suisse Group reiterated a “buy” rating and set a $680.00 target price on shares of BlackRock in a research note on Friday, January 12th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 target price for the company in a research note on Tuesday, October 3rd. Goldman Sachs Group upgraded shares of BlackRock from a “neutral” rating to a “buy” rating and upped their target price for the company from $440.00 to $500.00 in a research note on Thursday, September 28th. Citigroup upped their target price on shares of BlackRock to $625.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Argus reissued a “buy” rating and issued a $620.00 price target (up previously from $520.00) on shares of BlackRock in a report on Tuesday.

In other news, Director Deryck C. Maughan bought 3,861 shares of the stock in a transaction dated Wednesday, January 17th. The shares were acquired at an average price of $573.44 per share, with a total value of $2,214,051.84. Following the acquisition, the director now owns 12,265 shares in the company, valued at $7,033,241.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff A. Smith sold 100 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $477.54, for a total transaction of $47,754.00. The disclosure for this sale can be found here. Insiders sold a total of 4,525 shares of company stock worth $2,312,687 in the last three months. Insiders own 1.86% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of BLK. CIBC World Markets Inc. grew its holdings in shares of BlackRock by 20.5% in the 2nd quarter. CIBC World Markets Inc. now owns 14,651 shares of the asset manager’s stock worth $6,189,000 after purchasing an additional 2,490 shares during the last quarter. Eaton Vance Management grew its holdings in shares of BlackRock by 22.0% in the 2nd quarter. Eaton Vance Management now owns 13,968 shares of the asset manager’s stock worth $5,900,000 after purchasing an additional 2,519 shares during the last quarter. AXA grew its holdings in shares of BlackRock by 32.4% in the 2nd quarter. AXA now owns 81,955 shares of the asset manager’s stock worth $34,618,000 after purchasing an additional 20,033 shares during the last quarter. Bfsg LLC grew its holdings in shares of BlackRock by 0.4% in the 2nd quarter. Bfsg LLC now owns 7,438 shares of the asset manager’s stock worth $3,142,000 after purchasing an additional 26 shares during the last quarter. Finally, Financial Counselors Inc. grew its holdings in shares of BlackRock by 2.9% in the 2nd quarter. Financial Counselors Inc. now owns 19,563 shares of the asset manager’s stock worth $8,264,000 after purchasing an additional 547 shares during the last quarter. 83.55% of the stock is currently owned by institutional investors and hedge funds.

BlackRock (NYSE:BLK) opened at $590.26 on Friday. The company has a market cap of $94,640.00, a price-to-earnings ratio of 19.48, a P/E/G ratio of 1.55 and a beta of 1.81. BlackRock has a one year low of $365.83 and a one year high of $590.56. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89.

BlackRock (NYSE:BLK) last released its earnings results on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.94 by $0.30. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the company earned $5.14 EPS. equities analysts predict that BlackRock will post 28.52 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th will be issued a $2.88 dividend. This represents a $11.52 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Tuesday, March 6th. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s payout ratio is 33.00%.

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About BlackRock

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.

Analyst Recommendations for BlackRock (NYSE:BLK)

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