BlackRock (NYSE:BLK) PT Raised to $995.00

BlackRock (NYSE:BLK) had its price target raised by Evercore ISI from $945.00 to $995.00 in a report published on Friday, Benzinga reports. The brokerage currently has an outperform rating on the asset manager’s stock.

A number of other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of BlackRock from $774.00 to $864.00 and gave the stock a neutral rating in a research note on Tuesday, October 1st. Wells Fargo & Company started coverage on BlackRock in a report on Thursday, September 12th. They issued an overweight rating and a $1,000.00 price objective on the stock. Keefe, Bruyette & Woods raised their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an outperform rating in a research report on Tuesday, July 16th. Morgan Stanley decreased their target price on shares of BlackRock from $1,025.00 to $1,013.00 and set an overweight rating for the company in a research report on Thursday, July 11th. Finally, Citigroup raised their price target on shares of BlackRock from $920.00 to $930.00 and gave the company a buy rating in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $943.93.

BlackRock Stock Performance

Shares of BLK opened at $940.53 on Friday. BlackRock has a 12-month low of $596.18 and a 12-month high of $960.74. The stock has a market capitalization of $139.76 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.05 and a beta of 1.30. The firm’s 50 day moving average is $890.01 and its 200-day moving average is $826.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The company had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. BlackRock’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.28 earnings per share. Equities research analysts anticipate that BlackRock will post 41.37 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were issued a dividend of $5.10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.17%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the firm’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 sale, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark Wiedman sold 27,000 shares of the firm’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 transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On BlackRock

Institutional investors have recently added to or reduced their stakes in the stock. J. W. Coons Advisors LLC increased its holdings in shares of BlackRock by 0.6% in the fourth quarter. J. W. Coons Advisors LLC now owns 3,564 shares of the asset manager’s stock valued at $2,893,000 after purchasing an additional 22 shares in the last quarter. Stephens Inc. AR lifted its position in BlackRock by 1.3% in the 4th quarter. Stephens Inc. AR now owns 7,271 shares of the asset manager’s stock valued at $5,903,000 after acquiring an additional 93 shares in the last quarter. Waterloo Capital L.P. acquired a new position in BlackRock in the 4th quarter worth $405,000. Security National Bank boosted its position in BlackRock by 0.3% during the 4th quarter. Security National Bank now owns 7,353 shares of the asset manager’s stock worth $5,969,000 after acquiring an additional 19 shares during the last quarter. Finally, Seven Eight Capital LP bought a new position in shares of BlackRock during the 4th quarter worth approximately $1,408,000. 80.69% of the stock is owned by institutional investors and hedge funds.

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.