BlackRock, Inc. (NYSE:BLK) Receives $1,077.08 Average Price Target from Analysts

BlackRock, Inc. (NYSE:BLK) has received an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $1,077.08.

Several research analysts have recently commented on BLK shares. Keefe, Bruyette & Woods decreased their price objective on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company dropped their price target on shares of BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Citigroup lowered their target price on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Barclays raised their price target on BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a report on Monday, April 14th. Finally, TD Cowen cut their target price on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th.

BlackRock Trading Down 0.9 %

Shares of NYSE:BLK opened at $908.28 on Thursday. BlackRock has a 1 year low of $748.78 and a 1 year high of $1,084.22. The stock’s fifty day moving average price is $922.02 and its 200-day moving average price is $983.68. The company has a market cap of $141.01 billion, a P/E ratio of 21.63, a PEG ratio of 1.90 and a beta of 1.38. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same period last year, the business posted $9.81 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were given a $5.21 dividend. The ex-dividend date was Friday, March 7th. This represents a $20.84 annualized dividend and a yield of 2.29%. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio (DPR) is currently 50.63%.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 430 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $949.37, for a total transaction of $408,229.10. Following the transaction, the director now owns 3,720 shares of the company’s stock, valued at approximately $3,531,656.40. The trade was a 10.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 12,430 shares of company stock worth $12,838,649 over the last ninety days. Company insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On BlackRock

Several hedge funds and other institutional investors have recently made changes to their positions in BLK. IAG Wealth Partners LLC bought a new stake in BlackRock in the fourth quarter worth about $26,000. Investment Management Corp VA ADV bought a new stake in shares of BlackRock during the 4th quarter worth approximately $30,000. Collier Financial purchased a new position in BlackRock during the 4th quarter valued at $32,000. Compass Planning Associates Inc bought a new position in BlackRock in the 4th quarter valued at $33,000. Finally, MorganRosel Wealth Management LLC bought a new stake in shares of BlackRock during the first quarter worth $31,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

About BlackRock

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.