BlackRock, Inc. (BLK) Given Average Rating of “Buy” by Analysts

BlackRock, Inc. (NYSE:BLK) has been assigned a consensus recommendation of “Buy” from the fourteen brokerages that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $547.92.

Several equities research analysts recently issued reports on BLK shares. Zacks Investment Research lowered shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Credit Suisse Group reaffirmed a “buy” rating and issued a $680.00 price objective on shares of BlackRock in a research note on Friday, January 12th. Jefferies Group lifted their price objective on shares of BlackRock to $565.00 and gave the company a “hold” rating in a research note on Monday, January 15th. Citigroup lifted their price objective on shares of BlackRock to $625.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and issued a $555.00 price objective (up previously from $535.00) on shares of BlackRock in a research note on Tuesday, January 16th.

BlackRock (NYSE BLK) opened at $521.27 on Wednesday. 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 has a fifty-two week low of $368.00 and a fifty-two week high of $594.52. The company has a market cap of $84,610.35, a price-to-earnings ratio of 17.20, a PEG ratio of 1.41 and a beta of 1.76.

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

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th will be given a dividend of $2.88 per share. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $11.52 dividend on an annualized basis and a yield of 2.21%. BlackRock’s payout ratio is currently 33.00%.

In other BlackRock news, insider Jeff A. Smith sold 100 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $477.54, for a total transaction of $47,754.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Deryck C. Maughan bought 3,861 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were purchased at an average cost of $573.44 per share, with a total value of $2,214,051.84. Following the transaction, the director now owns 12,265 shares in the company, valued at $7,033,241.60. The disclosure for this purchase can be found here. In the last three months, insiders have sold 10,275 shares of company stock valued at $5,342,005. Company insiders own 1.86% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in BLK. BlackRock Inc. lifted its position in BlackRock by 4.4% during the 4th quarter. BlackRock Inc. now owns 7,255,797 shares of the asset manager’s stock worth $3,727,377,000 after acquiring an additional 307,213 shares during the last quarter. Stifel Financial Corp raised its position in shares of BlackRock by 2,450.2% during the third quarter. Stifel Financial Corp now owns 181,678 shares of the asset manager’s stock valued at $81,105,000 after buying an additional 174,554 shares during the last quarter. PGGM Investments acquired a new position in shares of BlackRock during the third quarter valued at about $54,175,000. Amundi Pioneer Asset Management Inc. raised its position in shares of BlackRock by 31.6% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 442,328 shares of the asset manager’s stock valued at $227,228,000 after buying an additional 106,315 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of BlackRock during the fourth quarter valued at about $53,310,000. 83.15% of the stock is owned by hedge funds and other institutional investors.

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BlackRock Company Profile

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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