Shares of BlackRock, Inc. (NYSE:BLK) have received a consensus recommendation of “Buy” from the fifteen research firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $494.03.
Several analysts have recently commented on BLK shares. Wells Fargo & Co increased their target price on shares of BlackRock from $460.00 to $480.00 and gave the company an “average” rating in a report on Wednesday, April 17th. Barclays increased their target price on shares of BlackRock from $490.00 to $515.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Morgan Stanley increased their target price on shares of BlackRock from $536.00 to $545.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Citigroup increased their target price on shares of BlackRock from $450.00 to $500.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $491.00 target price for the company in a report on Tuesday, April 2nd.
BLK traded up $3.13 during trading on Wednesday, hitting $446.25. 416,832 shares of the company’s stock were exchanged, compared to its average volume of 579,736. The company has a current ratio of 3.49, a quick ratio of 3.49 and a debt-to-equity ratio of 0.83. BlackRock has a fifty-two week low of $360.79 and a fifty-two week high of $547.52. The company has a market cap of $68.84 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.60 and a beta of 1.50.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, April 16th. The asset manager reported $6.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $6.13 by $0.48. BlackRock had a net margin of 30.58% and a return on equity of 13.46%. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the prior year, the company posted $6.48 earnings per share. The business’s revenue was down 6.6% on a year-over-year basis. As a group, equities analysts forecast that BlackRock will post 27.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a $3.30 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $13.20 annualized dividend and a dividend yield of 2.96%. BlackRock’s dividend payout ratio is currently 49.02%.
In other news, insider Jeff A. Smith sold 300 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $468.22, for a total value of $140,466.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gary Shedlin sold 2,750 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $467.99, for a total transaction of $1,286,972.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,525 shares of company stock valued at $16,591,075. 1.42% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of BLK. Norges Bank purchased a new stake in BlackRock during the fourth quarter worth about $1,092,934,000. Pennsylvania Trust Co increased its holdings in BlackRock by 5,049.8% during the first quarter. Pennsylvania Trust Co now owns 1,084,132 shares of the asset manager’s stock worth $44,805,000 after buying an additional 1,063,080 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in BlackRock by 82.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 882,855 shares of the asset manager’s stock worth $377,306,000 after buying an additional 399,877 shares during the last quarter. Flossbach Von Storch AG boosted its position in BlackRock by 114.1% during the fourth quarter. Flossbach Von Storch AG now owns 582,743 shares of the asset manager’s stock worth $228,913,000 after purchasing an additional 310,623 shares during the period. Finally, Beutel Goodman & Co Ltd. bought a new position in BlackRock during the fourth quarter worth about $6,039,000. Institutional investors and hedge funds own 81.36% of the company’s stock.
BlackRock Company Profile
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.
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