BlackRock Inc. (BLK) Given New $418.00 Price Target at Deutsche Bank AG
BlackRock Inc. (NYSE:BLK) had its price target boosted by equities researchers at Deutsche Bank AG from $412.00 to $418.00 in a research note issued on Wednesday. The firm currently has a “buy” rating on the stock. Deutsche Bank AG’s target price would suggest a potential upside of 17.41% from the company’s previous close.
A number of other analysts have also recently issued reports on BLK. Morgan Stanley reiterated a “buy” rating on shares of BlackRock in a research note on Tuesday, June 7th. Credit Suisse Group AG reiterated a “buy” rating on shares of BlackRock in a research note on Friday, June 10th. Barclays PLC reiterated an “equal weight” rating and issued a $363.00 target price on shares of BlackRock in a research note on Wednesday, June 15th. Citigroup Inc. reiterated a “buy” rating on shares of BlackRock in a research note on Thursday, June 16th. Finally, Zacks Investment Research cut shares of BlackRock from a “hold” rating to a “sell” rating in a research note on Monday, June 20th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $383.19.
BlackRock (NYSE:BLK) traded up 0.70% during midday trading on Wednesday, reaching $358.51. 115,139 shares of the company were exchanged. The firm has a market cap of $58.96 billion, a P/E ratio of 19.10 and a beta of 1.46. BlackRock has a one year low of $280.55 and a one year high of $376.65. The firm’s 50-day moving average is $367.59 and its 200-day moving average is $356.57.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing the consensus estimate of $4.82 by $0.04. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.96 earnings per share. On average, equities analysts expect that BlackRock will post $19.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were paid a $2.29 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $9.16 annualized dividend and a dividend yield of 2.57%. BlackRock’s dividend payout ratio is presently 48.83%.
In related news, Director J. Richard Kushel sold 8,000 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $356.55, for a total transaction of $2,852,400.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ryan Stork sold 1,400 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $367.24, for a total transaction of $514,136.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Capital Fund Management S.A. increased its position in shares of BlackRock by 1,742.8% in the second quarter. Capital Fund Management S.A. now owns 31,327 shares of the company’s stock valued at $10,730,000 after buying an additional 29,627 shares during the period. Windward Capital Management Co. CA increased its position in shares of BlackRock by 0.8% in the second quarter. Windward Capital Management Co. CA now owns 44,866 shares of the company’s stock valued at $15,368,000 after buying an additional 363 shares during the period. Legal & General Group Plc increased its position in shares of BlackRock by 1.7% in the first quarter. Legal & General Group Plc now owns 525,766 shares of the company’s stock valued at $179,060,000 after buying an additional 8,694 shares during the period. Royal Bank of Canada increased its position in shares of BlackRock by 2.2% in the first quarter. Royal Bank of Canada now owns 436,900 shares of the company’s stock valued at $148,796,000 after buying an additional 9,486 shares during the period. Finally, Cullen Frost Bankers Inc. increased its position in shares of BlackRock by 0.4% in the second quarter. Cullen Frost Bankers Inc. now owns 57,047 shares of the company’s stock valued at $19,540,000 after buying an additional 227 shares during the period. Institutional investors and hedge funds own 81.58% of the company’s stock.
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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