Deutsche Bank Aktiengesellschaft Cuts BlackRock (NYSE:BLK) Price Target to $912.00

BlackRock (NYSE:BLK) had its price objective lowered by Deutsche Bank Aktiengesellschaft from $924.00 to $912.00 in a research note released on Tuesday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the asset manager’s stock.

Other research analysts also recently issued research reports about the company. Argus lifted their price target on BlackRock from $880.00 to $910.00 and gave the company a buy rating in a report on Tuesday. TD Cowen lowered their target price on BlackRock from $974.00 to $969.00 and set a buy rating on the stock in a research note on Monday, July 8th. Evercore ISI upped their target price on BlackRock from $910.00 to $920.00 and gave the company an outperform rating in a report on Tuesday. Morgan Stanley lowered their price objective on shares of BlackRock from $1,025.00 to $1,013.00 and set an overweight rating on the stock in a research report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an outperform rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, BlackRock has a consensus rating of Moderate Buy and a consensus target price of $872.29.

BlackRock Price Performance

BLK stock opened at $830.59 on Tuesday. BlackRock has a one year low of $596.18 and a one year high of $851.88. The firm has a 50-day moving average of $792.28 and a two-hundred day moving average of $793.85. The firm has a market capitalization of $123.43 billion, a PE ratio of 21.11, a P/E/G ratio of 1.86 and a beta of 1.32. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.53%. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the previous year, the business earned $9.28 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, analysts forecast that BlackRock will post 41.22 earnings per share for the current year.

BlackRock Dividend Announcement

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

Insider Buying and Selling at BlackRock

In other news, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction on 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 completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the sale, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The disclosure for this sale can be found here. Insiders have sold a total of 66,978 shares of company stock worth $54,692,570 over the last three months. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On BlackRock

A number of institutional investors have recently made changes to their positions in BLK. Vanguard Group Inc. grew its holdings in BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after buying an additional 292,017 shares during the last quarter. Capital Research Global Investors grew its stake in shares of BlackRock by 11.1% in the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after acquiring an additional 435,358 shares during the last quarter. Capital World Investors increased its position in BlackRock by 57.3% during the fourth quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after acquiring an additional 1,279,952 shares during the period. Capital International Investors raised its stake in BlackRock by 2.4% during the 4th quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock valued at $2,006,490,000 after purchasing an additional 58,681 shares during the last quarter. Finally, Norges Bank bought a new stake in BlackRock in the 4th quarter valued at $1,812,920,000. 80.69% of the stock is currently owned by institutional investors.

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.