BlackRock (NYSE:BLK) PT Raised to $1,010.00

BlackRock (NYSE:BLK) had its price objective hoisted by Barclays from $990.00 to $1,010.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the asset manager’s stock.

A number of other research firms also recently weighed in on BLK. Deutsche Bank Aktiengesellschaft boosted their target price on shares of BlackRock from $912.00 to $937.00 and gave the stock a buy rating in a report on Thursday, August 15th. The Goldman Sachs Group upped their price objective on BlackRock from $960.00 to $1,040.00 and gave the company a buy rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their target price on BlackRock from $774.00 to $864.00 and gave the company a neutral rating in a research report on Tuesday, October 1st. UBS Group lowered their price target on BlackRock from $842.00 to $837.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. Finally, Citigroup boosted their price objective on shares of BlackRock from $920.00 to $930.00 and gave the company a buy rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $972.23.

BlackRock Trading Down 0.0 %

Shares of BLK stock opened at $955.57 on Monday. The stock’s 50-day moving average price is $894.70 and its 200-day moving average price is $829.20. BlackRock has a 12-month low of $596.18 and a 12-month high of $963.33. The stock has a market capitalization of $142.00 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

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

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction on 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 owns 6,480 shares in the company, valued at approximately $5,407,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the stock in a transaction dated Tuesday, July 16th. The shares were 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 in the company, valued at $5,407,041.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Redmont Wealth Advisors LLC purchased a new position in BlackRock in the first quarter valued at about $27,000. Pineridge Advisors LLC purchased a new stake in BlackRock during the fourth quarter valued at approximately $28,000. Fairscale Capital LLC acquired a new stake in BlackRock in the second quarter valued at approximately $31,000. Lam Group Inc. purchased a new position in BlackRock in the first quarter worth $33,000. Finally, Fairman Group LLC acquired a new position in shares of BlackRock during the fourth quarter worth $35,000. 80.69% of the stock is currently owned by hedge funds and other 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.