Zacks Research upgraded shares of BlackRock (NYSE:BLK – Free 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%
BlackRock (NYSE:BLK – Get 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.
More BlackRock News
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: BlackRock-led infrastructure vehicles completed the acquisition of Aligned Data Centers and are committing an additional $5 billion in growth capital, reinforcing BLK’s exposure to the AI buildout and alternative-asset fee opportunities. AIP, MGX and BlackRock’s GIP Close Acquisition of Aligned Data Centers
- Positive Sentiment: BlackRock Canada announced monthly July cash distributions across a wide slate of iShares ETFs, underscoring the strength and recurring income appeal of its ETF franchise. BlackRock Canada Announces July Cash Distributions for the iShares ETFs
- Positive Sentiment: Investor interest in BlackRock’s Ethereum products remains strong, with reports of fresh inflows into ETHA and a new, similar ether fund that adds another monetizable product in digital assets. Forget ETHA. iShares’ Other Ether Fund Is Nearly Identical, Except It Pays You
- Neutral Sentiment: CEO Larry Fink’s comments that AI growth is constrained by electricity, plus New York’s data-center moratorium, keep attention on power bottlenecks for the AI infrastructure theme BlackRock is investing behind. Larry Fink Says AI Needs More Electricity. Google Is Trying To Need Less Of It.
- Neutral Sentiment: BlackRock’s ETF and asset-management announcements, including distribution updates and product coverage, are broadly supportive but not likely to move the stock on their own. BlackRock® Canada Announces July Cash Distributions for the iShares® ETFs
- Negative Sentiment: Some recent headlines note BlackRock reducing a few holdings and broader financial-sector weakness, which may add mild pressure, but these appear less important than the positive infrastructure and ETF news. Major Shareholder Announcement
BlackRock Company Profile
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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