Several other research firms have also recently issued reports on BLK. Deutsche Bank AG reiterated a buy rating and issued a $392.00 price target (up previously from $372.00) on shares of BlackRock in a report on Sunday, July 10th. Credit Suisse Group AG reiterated a buy rating on shares of BlackRock in a report on Tuesday, July 12th. Keefe, Bruyette & Woods cut BlackRock from an outperform rating to a market perform rating and decreased their price target for the company from $390.00 to $383.00 in a report on Friday, July 15th. Zacks Investment Research upgraded BlackRock from a hold rating to a buy rating and set a $410.00 target price on the stock in a report on Monday, September 19th. Finally, Citigroup Inc. restated a buy rating on shares of BlackRock in a report on Thursday, June 16th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $385.26.
BlackRock (NYSE:BLK) opened at 354.91 on Tuesday. The firm has a market cap of $58.37 billion, a P/E ratio of 18.91 and a beta of 1.46. BlackRock has a 12-month low of $280.55 and a 12-month high of $376.65. The company has a 50-day moving average price of $364.07 and a 200-day moving average price of $357.11.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Thursday, July 14th. The company reported $4.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by $0.04. The firm earned $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. BlackRock’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.96 EPS. On average, analysts predict that BlackRock will post $19.23 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were given a dividend of $2.29 per share. This represents a $9.16 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Wednesday, August 31st. BlackRock’s dividend payout ratio (DPR) is 48.83%.
In other news, Director James Grosfeld sold 10,911 shares of BlackRock stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $371.98, for a total transaction of $4,058,673.78. Following the completion of the transaction, the director now directly owns 514,402 shares in the company, valued at approximately $191,347,255.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Mccombe sold 1,400 shares of BlackRock stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $374.92, for a total value of $524,888.00. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Ropes Wealth Advisors LLC increased its position in shares of BlackRock by 0.3% in the second quarter. Ropes Wealth Advisors LLC now owns 388 shares of the company’s stock valued at $133,000 after buying an additional 1 shares in the last quarter. HBK Sorce Advisory LLC increased its stake in BlackRock by 0.8% in the second quarter. HBK Sorce Advisory LLC now owns 608 shares of the company’s stock valued at $208,000 after buying an additional 5 shares during the period. Burke & Herbert Bank & Trust Co. increased its stake in BlackRock by 0.5% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 1,249 shares of the company’s stock valued at $428,000 after buying an additional 6 shares during the period. Private Bank & Trust Co. increased its stake in BlackRock by 0.6% in the second quarter. Private Bank & Trust Co. now owns 1,331 shares of the company’s stock valued at $456,000 after buying an additional 8 shares during the period. Finally, Dorsey & Whitney Trust CO LLC increased its stake in BlackRock by 0.7% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 1,655 shares of the company’s stock valued at $567,000 after buying an additional 12 shares during the period. Institutional investors own 81.57% of the company’s stock.
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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