BlackRock (NYSE:BLK) Price Target Raised to $934.00 at Keefe, Bruyette & Woods

BlackRock (NYSE:BLK) had its price objective increased by Keefe, Bruyette & Woods from $915.00 to $934.00 in a research note published on Tuesday, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the asset manager’s stock.

BLK has been the topic of a number of other research reports. Morgan Stanley decreased their target price on shares of BlackRock from $1,025.00 to $1,013.00 and set an overweight rating on the stock in a research note on Thursday, July 11th. TD Cowen reduced their price objective on shares of BlackRock from $974.00 to $969.00 and set a buy rating on the stock in a research note on Monday, July 8th. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $742.00 to $767.00 and gave the stock a neutral rating in a research note on Tuesday, April 2nd. Finally, UBS Group reduced their price objective on shares of BlackRock from $842.00 to $837.00 and set a neutral rating on the stock in a research note on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, BlackRock has an average rating of Moderate Buy and a consensus price target of $872.29.

BlackRock Stock Performance

Shares of NYSE:BLK opened at $829.00 on Tuesday. The company’s 50 day simple moving average is $791.61 and its 200 day simple moving average is $793.72. The stock has a market capitalization of $123.19 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 1.87 and a beta of 1.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32. BlackRock has a 1 year low of $596.18 and a 1 year high of $851.88.

BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The firm had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.53%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.28 earnings per share. As a group, research analysts predict that BlackRock will post 41.12 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were issued a dividend of $5.10 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $20.40 annualized dividend and a dividend yield of 2.46%. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the sale, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the sale, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. The disclosure for this sale can be found here. Insiders have sold 66,978 shares of company stock worth $54,692,570 in the last quarter. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On BlackRock

A number of institutional investors have recently added to or reduced their stakes in BLK. Emerald Advisors LLC grew its position in shares of BlackRock by 2.5% during the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after acquiring an additional 26 shares during the period. Carolinas Wealth Consulting LLC grew its position in shares of BlackRock by 25.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after acquiring an additional 40 shares during the period. McGlone Suttner Wealth Management Inc. grew its position in shares of BlackRock by 8.5% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after acquiring an additional 60 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of BlackRock during the 4th quarter valued at approximately $439,000. Finally, Patten & Patten Inc. TN bought a new position in shares of BlackRock during the 4th quarter valued at approximately $205,000. 80.69% of the stock is owned by institutional investors.

About BlackRock

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.