BlackRock (NYSE:BLK) Price Target Lowered to $1,383.00 at Morgan Stanley

BlackRock (NYSE:BLK) had its price objective reduced by Morgan Stanley from $1,430.00 to $1,383.00 in a report issued on Tuesday morning, MarketBeat Ratings reports. They currently have an overweight rating on the asset manager’s stock.

Several other equities analysts have also issued reports on BLK. The Goldman Sachs Group upped their target price on BlackRock from $1,181.00 to $1,313.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. UBS Group lifted their price target on BlackRock from $1,235.00 to $1,270.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. BNP Paribas Exane boosted their price objective on BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Evercore restated an “outperform” rating and issued a $1,145.00 price objective on shares of BlackRock in a research note on Friday. Finally, TD Cowen reduced their price objective on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,270.72.

BlackRock Trading Down 0.5%

Shares of BlackRock stock opened at $1,026.88 on Tuesday. The company has a market capitalization of $159.16 billion, a P/E ratio of 25.78, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43. The stock has a fifty day simple moving average of $1,033.22 and a 200 day simple moving average of $1,042.90. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,219.94. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, beating the consensus estimate of $12.40 by $0.13. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter last year, the business posted $9.64 EPS. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. On average, sell-side analysts anticipate that BlackRock will post 54.16 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th were issued a dividend of $5.73 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $22.92 annualized dividend and a yield of 2.2%. BlackRock’s dividend payout ratio is 57.53%.

Insider Activity

In related news, CEO Laurence Fink sold 33,900 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the sale, the chief executive officer directly owned 230,516 shares in the company, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Robert Kapito sold 8,739 shares of the stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total value of $9,233,627.40. Following the sale, the president directly owned 210,186 shares in the company, valued at $222,082,527.60. This trade represents a 3.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BLK. RMG Wealth Management LLC bought a new stake in BlackRock during the 1st quarter worth approximately $25,000. Evolution Wealth Management Inc. bought a new position in BlackRock in the 4th quarter valued at $26,000. Birchbrook Inc. purchased a new position in shares of BlackRock during the 4th quarter valued at $31,000. LFA Lugano Financial Advisors SA bought a new position in shares of BlackRock in the fourth quarter worth $32,000. Finally, Basepoint Wealth LLC bought a new position in shares of BlackRock in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock is expected to deliver another strong quarter, with Wall Street looking for Q2 EPS of $12.65 and revenue of $6.74 billion, both implying solid year-over-year growth and setting up a potentially favorable earnings reaction. Article Title
• Positive Sentiment: Investor demand for BlackRock’s cash-style ETF SGOV is surging, with assets nearing $100 billion, highlighting strong inflows into BlackRock’s ETF franchise and ongoing demand for its low-risk cash management products. Article Title
• Positive Sentiment: BlackRock’s tokenization and digital-asset initiatives are gaining traction, including BUIDL’s rapid asset growth and BlackRock’s role in a UK tokenization task force, reinforcing the company’s positioning in a fast-growing market. Article Title
• Neutral Sentiment: BlackRock continues to be discussed favorably in comparison pieces and ETF coverage, but these articles are more informational than stock-moving. Article Title
• Neutral Sentiment: Morgan Stanley lowered its price target on BlackRock to $1,383 from $1,430, but kept an overweight rating, so the signal is still positive overall despite slightly less upside. Article Title

About BlackRock

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.