Barclays PLC started coverage on shares of BlackRock, Inc. (NYSE:BLK) in a research note released on Friday morning, Marketbeat.com reports. The firm issued an overweight rating and a $475.00 target price on the asset manager’s stock.
Several other equities analysts have also commented on BLK. Jefferies Group LLC reaffirmed a hold rating and issued a $440.00 price objective on shares of BlackRock in a research report on Friday, August 18th. Deutsche Bank AG increased their price objective on shares of BlackRock from $447.00 to $449.00 and gave the company a buy rating in a research report on Tuesday, July 4th. BidaskClub lowered shares of BlackRock from a strong-buy rating to a buy rating in a research report on Monday, July 31st. Zacks Investment Research raised shares of BlackRock from a hold rating to a buy rating and set a $480.00 price objective for the company in a research report on Tuesday, June 20th. Finally, Credit Suisse Group reissued an outperform rating and set a $534.00 price target on shares of BlackRock in a research report on Tuesday, July 18th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. BlackRock presently has an average rating of Buy and an average target price of $449.08.
Shares of BlackRock (BLK) opened at 424.04 on Friday. The company has a market capitalization of $68.78 billion, a price-to-earnings ratio of 20.35 and a beta of 1.71. The stock has a 50 day moving average of $422.35 and a 200-day moving average of $405.12. BlackRock has a 52 week low of $336.84 and a 52 week high of $442.84.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by $0.15. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $4.78 earnings per share. On average, analysts anticipate that BlackRock will post $21.82 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be paid a dividend of $2.50 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.36%. BlackRock’s dividend payout ratio (DPR) is presently 47.98%.
In other BlackRock news, insider Robert W. Fairbairn sold 3,675 shares of BlackRock stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jeff A. Smith sold 522 shares of BlackRock stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $421.52, for a total transaction of $220,033.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,447 shares of company stock worth $1,855,015. 1.86% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Intl Fcstone Inc. acquired a new stake in BlackRock during the 2nd quarter worth $383,000. Lord Abbett & CO. LLC raised its holdings in shares of BlackRock by 22.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 180,141 shares of the asset manager’s stock worth $76,093,000 after acquiring an additional 32,541 shares during the period. RNC Capital Management LLC raised its holdings in shares of BlackRock by 3.1% during the 2nd quarter. RNC Capital Management LLC now owns 72,416 shares of the asset manager’s stock worth $30,589,000 after acquiring an additional 2,173 shares during the period. WFG Advisors LP raised its holdings in shares of BlackRock by 66.6% during the 2nd quarter. WFG Advisors LP now owns 1,096 shares of the asset manager’s stock worth $463,000 after acquiring an additional 438 shares during the period. Finally, Cetera Investment Advisers purchased a new position in shares of BlackRock during the 2nd quarter worth $345,000. 82.77% of the stock is currently owned by institutional investors.
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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