Other equities research analysts have also issued reports about the company. Deutsche Bank AG boosted their target price on BlackRock from $447.00 to $449.00 and gave the stock a buy rating in a report on Tuesday, July 4th. BidaskClub lowered BlackRock from a strong-buy rating to a buy rating in a report on Monday, July 31st. Bank of America Corporation restated a buy rating and issued a $450.00 target price on shares of BlackRock in a report on Monday, June 19th. Goldman Sachs Group, Inc. (The) upgraded BlackRock from a neutral rating to a buy rating and boosted their target price for the stock from $440.00 to $500.00 in a report on Thursday, September 28th. Finally, Zacks Investment Research upgraded BlackRock from a hold rating to a buy rating and set a $501.00 target price for the company in a report on Tuesday, October 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. BlackRock currently has an average rating of Buy and an average price target of $478.50.
Shares of BlackRock (NYSE:BLK) opened at 475.49 on Thursday. BlackRock has a 12 month low of $336.84 and a 12 month high of $485.23. The firm has a 50-day moving average of $437.85 and a 200 day moving average of $416.14. The firm has a market cap of $76.84 billion, a P/E ratio of 22.27 and a beta of 1.72.
BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.49 by $0.43. BlackRock had a return on equity of 12.09% and a net margin of 29.52%. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the company earned $5.14 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, equities research analysts anticipate that BlackRock will post $22.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th were given a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Thursday, August 31st. BlackRock’s dividend payout ratio is presently 46.82%.
In other news, insider Mark Mccombe sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $478.99, for a total transaction of $478,990.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total value of $1,526,264.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,547 shares of company stock worth $2,382,163. 1.86% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of BlackRock by 8.4% during the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock valued at $3,569,693,000 after purchasing an additional 656,569 shares during the period. Capital World Investors increased its position in shares of BlackRock by 12.9% during the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock valued at $3,001,358,000 after purchasing an additional 810,667 shares during the period. BlackRock Inc. increased its position in shares of BlackRock by 3.2% during the second quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock valued at $2,851,570,000 after purchasing an additional 209,209 shares during the period. State Street Corp increased its position in shares of BlackRock by 2.1% during the first quarter. State Street Corp now owns 5,445,766 shares of the asset manager’s stock valued at $2,088,501,000 after purchasing an additional 112,993 shares during the period. Finally, UBS Group AG increased its position in shares of BlackRock by 40.2% during the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock valued at $650,563,000 after purchasing an additional 486,502 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.
BlackRock Company Profile
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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