BlackRock (NYSE:BLK) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of BlackRock (NYSE:BLKFree Report) from a hold rating to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

Other analysts have also issued reports about the stock. Morgan Stanley boosted their price target on shares of BlackRock from $1,383.00 to $1,488.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Evercore reissued an “outperform” rating and issued a $1,145.00 price objective on shares of BlackRock in a research note on Friday, July 10th. The Goldman Sachs Group restated a “buy” rating and issued a $1,389.00 price objective on shares of BlackRock in a report on Thursday, July 16th. BNP Paribas Exane upped their target price on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Finally, BMO Capital Markets increased their target price on shares of BlackRock from $1,250.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $1,304.29.

View Our Latest Stock Analysis on BlackRock

BlackRock Trading Down 1.6%

Shares of NYSE BLK opened at $1,037.31 on Monday. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $160.77 billion, a PE ratio of 24.79, a PEG ratio of 1.19 and a beta of 1.43. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. The stock has a fifty day simple moving average of $1,032.09 and a 200-day simple moving average of $1,042.37.

BlackRock (NYSE:BLKGet Free Report) last posted its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.69 by $1.22. BlackRock had a return on equity of 15.01% and a net margin of 24.09%.The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same quarter in the prior year, the company earned $12.05 EPS. BlackRock’s revenue was up 30.6% on a year-over-year basis. On average, equities analysts forecast that BlackRock will post 55.63 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th were paid a $5.73 dividend. This represents a $22.92 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, June 5th. BlackRock’s dividend payout ratio (DPR) is presently 54.78%.

Insider Transactions at BlackRock

In other news, CEO Laurence Fink sold 33,900 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the completion of the transaction, the chief executive officer directly owned 230,516 shares of the company’s stock, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Robert Kapito sold 8,739 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the sale, the president owned 210,186 shares in the company, valued at $222,082,527.60. The trade was a 3.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.92% of the company’s stock.

Institutional Investors Weigh In On BlackRock

Large investors have recently modified their holdings of the company. RMG Wealth Management LLC purchased a new stake in shares of BlackRock during the 1st quarter worth $25,000. Evolution Wealth Management Inc. purchased a new position in BlackRock in the fourth quarter valued at $26,000. Birchbrook Inc. purchased a new position in BlackRock in the fourth quarter valued at $31,000. LFA Lugano Financial Advisors SA acquired a new stake in BlackRock in the fourth quarter valued at $32,000. Finally, Basepoint Wealth LLC acquired a new stake in BlackRock in the fourth quarter valued at $32,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

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BlackRock Company Profile

(Get Free Report)

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

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