BlackRock’s (BLK) Market Perform Rating Reaffirmed at Wells Fargo & Co.
Other research analysts have also recently issued research reports about the stock. Credit Suisse Group AG reiterated a buy rating on shares of BlackRock in a report on Tuesday, July 12th. Deutsche Bank AG reissued a buy rating and issued a $392.00 price objective (up previously from $372.00) on shares of BlackRock in a research report on Sunday, July 10th. Citigroup Inc. reissued a buy rating on shares of BlackRock in a research report on Thursday, June 16th. Goldman Sachs Group Inc. lowered shares of BlackRock from a conviction-buy rating to a buy rating and boosted their price objective for the stock from $390.00 to $400.00 in a research report on Monday, August 8th. Finally, Vetr raised shares of BlackRock from a hold rating to a buy rating and set a $382.97 price objective on the stock in a research report on Wednesday, August 10th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. BlackRock has a consensus rating of Buy and a consensus target price of $382.56.
Shares of BlackRock (NYSE:BLK) traded down 0.97% during mid-day trading on Monday, reaching $355.32. 60,451 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $366.19 and its 200-day moving average is $357.12. BlackRock has a 52-week low of $280.55 and a 52-week high of $376.65. The stock has a market cap of $58.44 billion, a price-to-earnings ratio of 18.93 and a beta of 1.46.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Thursday, July 14th. The company reported $4.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.82 by $0.04. The company earned $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.96 EPS. On average, equities analysts expect that BlackRock will post $19.23 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were paid a dividend of $2.29 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $9.16 dividend on an annualized basis and a yield of 2.55%. BlackRock’s payout ratio is 48.83%.
In other BlackRock news, Director James Grosfeld sold 25,379 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $374.22, for a total transaction of $9,497,329.38. Following the sale, the director now directly owns 514,402 shares in the company, valued at $192,499,516.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan Stork sold 1,400 shares of the 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. Company insiders own 2.20% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Sun Life Financial INC bought a new stake in BlackRock during the first quarter worth $91,954,000. Feltz Wealth PLAN Inc. bought a new stake in BlackRock during the second quarter worth $126,000. Mycio Wealth Partners LLC increased its stake in BlackRock by 3.3% in the second quarter. Mycio Wealth Partners LLC now owns 379 shares of the company’s stock worth $130,000 after buying an additional 12 shares during the last quarter. Ropes Wealth Advisors LLC increased its stake in BlackRock by 35.3% in the first quarter. Ropes Wealth Advisors LLC now owns 387 shares of the company’s stock worth $132,000 after buying an additional 101 shares during the last quarter. Finally, Citizens Financial Group Inc RI increased its stake in BlackRock by 16.1% in the first quarter. Citizens Financial Group Inc RI now owns 389 shares of the company’s stock worth $133,000 after buying an additional 54 shares during the last quarter. Institutional investors own 81.58% of the company’s stock.
BlackRock Company Profile
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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