BlackRock Inc. (NYSE:BLK) had its target price raised by equities researchers at Deutsche Bank AG from $412.00 to $418.00 in a report released on Wednesday, StockTargetPrices.com reports. The firm currently has a “buy” rating on the stock. Deutsche Bank AG’s price objective indicates a potential upside of 17.15% from the company’s previous close.
Other equities analysts have also recently issued research reports about the stock. Credit Suisse Group AG restated a “buy” rating on shares of BlackRock in a research note on Tuesday, July 12th. Morgan Stanley reaffirmed a “buy” rating on shares of BlackRock in a research report on Tuesday, June 7th. Citigroup Inc. reaffirmed a “buy” rating on shares of BlackRock in a research report on Thursday, June 16th. Goldman Sachs Group Inc. lowered shares of BlackRock from a “conviction-buy” rating to a “buy” rating and upped their price target for the company from $390.00 to $400.00 in a research report on Monday, August 8th. Finally, Vetr raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $382.97 price target for the company in a research report on Wednesday, August 10th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $383.19.
Shares of BlackRock (NYSE:BLK) opened at 356.80 on Wednesday. The firm’s 50-day moving average is $366.96 and its 200 day moving average is $356.59. BlackRock has a 12 month low of $280.55 and a 12 month high of $376.65. The company has a market capitalization of $58.68 billion, a price-to-earnings ratio of 19.01 and a beta of 1.46.
BlackRock (NYSE:BLK) last posted its earnings results on Thursday, July 14th. The company reported $4.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.82 by $0.04. The company had revenue of $2.80 billion for 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 company posted $4.96 EPS. Equities analysts expect that BlackRock will post $19.23 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were given a dividend of $2.29 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $9.16 dividend on an annualized basis and a dividend yield of 2.57%. BlackRock’s dividend payout ratio is currently 48.83%.
In other news, Director James Grosfeld sold 25,379 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $374.22, for a total transaction of $9,497,329.38. Following the completion of the transaction, the director now directly owns 514,402 shares in the company, valued at approximately $192,499,516.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Mccombe sold 1,400 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were 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. Insiders own 2.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aviva PLC increased its position in BlackRock by 0.9% in the first quarter. Aviva PLC now owns 70,817 shares of the company’s stock worth $24,118,000 after buying an additional 601 shares in the last quarter. Ancora Inverness LLC increased its position in BlackRock by 91.8% in the first quarter. Ancora Inverness LLC now owns 1,218 shares of the company’s stock worth $415,000 after buying an additional 583 shares in the last quarter. ING Groep NV increased its position in BlackRock by 3,315.9% in the first quarter. ING Groep NV now owns 53,118 shares of the company’s stock worth $18,079,000 after buying an additional 51,563 shares in the last quarter. Ropes Wealth Advisors LLC increased its position in BlackRock by 35.3% in the first quarter. Ropes Wealth Advisors LLC now owns 387 shares of the company’s stock worth $132,000 after buying an additional 101 shares in the last quarter. Finally, M&T Bank Corp increased its position in BlackRock by 3.0% in the first quarter. M&T Bank Corp now owns 108,992 shares of the company’s stock worth $37,119,000 after buying an additional 3,158 shares in the last quarter. Hedge funds and other institutional investors own 81.58% of the company’s stock.
BlackRock Company Profile
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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