BlackRock (NYSE:BLK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

BlackRock (NYSE:BLK) has earned a consensus rating of “Moderate Buy” from the twenty analysts that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $1,302.5882.

BLK has been the subject of several recent analyst reports. Bank of America raised their price objective on shares of BlackRock from $1,394.00 to $1,456.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Keefe, Bruyette & Woods raised their target price on BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Evercore ISI upped their price target on shares of BlackRock from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. UBS Group reissued a “hold” rating on shares of BlackRock in a report on Tuesday, October 21st. Finally, The Goldman Sachs Group dropped their target price on shares of BlackRock from $1,372.00 to $1,313.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th.

BlackRock Price Performance

Shares of BlackRock stock opened at $1,075.11 on Friday. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The firm has a market cap of $166.80 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 1.62 and a beta of 1.47. The firm’s 50-day simple moving average is $1,101.74 and its 200-day simple moving average is $1,083.27. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.33 and a current ratio of 3.33.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a return on equity of 14.80% and a net margin of 26.64%.The company had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.22 billion. During the same period in the previous year, the company posted $11.46 earnings per share. The company’s quarterly revenue was up 25.2% on a year-over-year basis. As a group, research analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Friday, December 5th will be issued a dividend of $5.21 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $20.84 annualized dividend and a yield of 1.9%. BlackRock’s dividend payout ratio is currently 53.59%.

Insiders Place Their Bets

In other news, CFO Martin Small sold 1,258 shares of BlackRock stock in a transaction on Monday, December 1st. The stock was sold at an average price of $1,043.38, for a total value of $1,312,572.04. Following the completion of the sale, the chief financial officer directly owned 6,209 shares of the company’s stock, valued at approximately $6,478,346.42. This trade represents a 16.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the sale, the director owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. The trade was a 62.48% decrease in their position. The SEC filing for this sale provides additional information. 1.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BlackRock

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC raised its stake in BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after acquiring an additional 296 shares during the period. Bison Wealth LLC raised its stake in BlackRock by 1.6% during the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock valued at $1,078,000 after acquiring an additional 17 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of BlackRock during the first quarter valued at about $16,026,000. Cary Street Partners Financial LLC grew its position in BlackRock by 2.2% in the 1st quarter. Cary Street Partners Financial LLC now owns 2,576 shares of the asset manager’s stock valued at $2,438,000 after buying an additional 55 shares in the last quarter. Finally, Exencial Wealth Advisors LLC raised its position in shares of BlackRock by 1.9% during the 1st quarter. Exencial Wealth Advisors LLC now owns 3,005 shares of the asset manager’s stock worth $2,844,000 after buying an additional 55 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

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.