BlackRock Inc. (BLK) Price Target Increased to $378.00 by Analysts at Barclays PLC
A number of other equities research analysts also recently commented on BLK. Deutsche Bank AG reaffirmed 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. Jefferies Group lowered their price objective on BlackRock from $359.00 to $357.00 and set a hold rating for the company in a research report on Monday, July 11th. Zacks Investment Research raised BlackRock from a hold rating to a buy rating and set a $410.00 price objective for the company in a research report on Monday, September 19th. Wells Fargo & Co. reaffirmed a hold rating on shares of BlackRock in a research report on Monday, July 11th. Finally, Citigroup Inc. reaffirmed a buy rating on shares of BlackRock in a research report on Thursday, June 16th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $384.00.
Shares of BlackRock (NYSE:BLK) traded up 0.81% on Thursday, reaching $352.16. The company had a trading volume of 257,687 shares. BlackRock has a 52 week low of $280.55 and a 52 week high of $376.65. The firm has a market capitalization of $57.92 billion, a P/E ratio of 18.76 and a beta of 1.46. The company’s 50-day moving average price is $364.46 and its 200 day moving average price is $356.98.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing the Zacks’ consensus estimate of $4.82 by $0.04. The business earned $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. BlackRock’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.96 EPS. On average, analysts expect that BlackRock will post $19.23 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were given a $2.29 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $9.16 dividend on an annualized basis and a yield of 2.62%. BlackRock’s dividend payout ratio (DPR) is 48.83%.
In other BlackRock news, Director James Grosfeld sold 25,379 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $374.22, for a total value of $9,497,329.38. Following the completion of the sale, the director now directly owns 514,402 shares in the company, valued at $192,499,516.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan Stork sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $367.24, for a total value of $514,136.00. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Capital Fund Management S.A. increased its stake in BlackRock by 1,742.8% in the second quarter. Capital Fund Management S.A. now owns 31,327 shares of the company’s stock worth $10,730,000 after buying an additional 29,627 shares during the period. Windward Capital Management Co. CA increased its stake in BlackRock by 0.8% in the second quarter. Windward Capital Management Co. CA now owns 44,866 shares of the company’s stock worth $15,368,000 after buying an additional 363 shares during the period. Legal & General Group Plc increased its stake in BlackRock by 1.7% in the first quarter. Legal & General Group Plc now owns 525,766 shares of the company’s stock worth $179,060,000 after buying an additional 8,694 shares during the period. Royal Bank of Canada increased its stake in BlackRock by 2.2% in the first quarter. Royal Bank of Canada now owns 436,900 shares of the company’s stock worth $148,796,000 after buying an additional 9,486 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in BlackRock by 21.5% in the second quarter. Daiwa Securities Group Inc. now owns 37,784 shares of the company’s stock worth $12,942,000 after buying an additional 6,690 shares during the period. Hedge funds and other institutional investors 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.
Receive News & Stock Ratings for BlackRock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock Inc. and related stocks with our FREE daily email newsletter.