BlackRock Inc. (NYSE:BLK) has received an average recommendation of “Buy” from the eighteen research firms that are currently covering the stock. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $381.07.
BLK has been the subject of several research reports. Citigroup Inc. reissued a “buy” rating on shares of BlackRock in a research note on Thursday, June 16th. Deutsche Bank AG lowered their target price on BlackRock from $386.00 to $383.00 and set a “buy” rating for the company in a research note on Thursday, June 16th. Zacks Investment Research cut BlackRock from a “hold” rating to a “sell” rating in a research note on Monday, June 20th. Jefferies Group reissued a “hold” rating on shares of BlackRock in a research note on Tuesday, July 5th. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of BlackRock in a research note on Monday, July 11th.
Shares of BlackRock (NYSE:BLK) opened at 349.34 on Tuesday. BlackRock has a one year low of $280.55 and a one year high of $376.65. The company has a market capitalization of $57.45 billion, a P/E ratio of 18.61 and a beta of 1.46. The stock has a 50 day moving average price of $364.46 and a 200-day moving average price of $356.98.
BlackRock (NYSE:BLK) last released its earnings results on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.82 by $0.04. The firm earned $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the business posted $4.96 earnings per share. Equities research analysts predict that BlackRock will post $19.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 2nd were given a $2.29 dividend. This represents a $9.16 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Wednesday, August 31st. BlackRock’s dividend payout ratio is currently 48.83%.
In related news, Director James Grosfeld sold 25,379 shares of BlackRock stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $374.22, for a total value of $9,497,329.38. Following the sale, the director now owns 514,402 shares of the company’s stock, valued at $192,499,516.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan Wagner sold 79,346 shares of BlackRock stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $366.35, for a total value of $29,068,407.10. Following the completion of the sale, the director now directly owns 587,365 shares in the company, valued at approximately $215,181,167.75. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Feltz Wealth PLAN Inc. bought a new stake in BlackRock during the second quarter worth about $126,000. Mycio Wealth Partners LLC increased its stake in BlackRock by 3.3% in the second quarter. Mycio Wealth Partners LLC now owns 379 shares of the company’s stock worth $130,000 after buying an additional 12 shares in the last quarter. Ropes Wealth Advisors LLC increased its stake 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. Citizens Financial Group Inc RI increased its stake in BlackRock by 16.1% in the first quarter. Citizens Financial Group Inc RI now owns 389 shares of the company’s stock worth $133,000 after buying an additional 54 shares in the last quarter. Finally, Financial Architects Inc increased its stake in BlackRock by 7.8% in the second quarter. Financial Architects Inc now owns 431 shares of the company’s stock worth $148,000 after buying an additional 31 shares in the last quarter. 81.58% of the stock is currently owned by institutional investors and hedge funds.
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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