BlackRock Inc. (BLK) Receives $380.84 Consensus Price Target from Analysts
Shares of BlackRock Inc. (NYSE:BLK) have earned an average recommendation of “Buy” from the eighteen brokerages that are presently covering the company. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $381.07.
Several equities analysts have commented on the stock. Barclays PLC reiterated a “hold” rating on shares of BlackRock in a research note on Sunday, July 17th. Deutsche Bank AG reissued a “buy” rating and issued a $392.00 price objective (up from $372.00) on shares of BlackRock in a report on Sunday, July 10th. Jefferies Group decreased their price objective on BlackRock from $359.00 to $357.00 and set a “hold” rating for the company in a 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 report on Monday, September 19th. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of BlackRock in a report on Monday, July 11th.
Shares of BlackRock (NYSE:BLK) opened at 349.34 on Tuesday. The company has a 50-day moving average of $364.46 and a 200 day moving average of $356.98. The stock has a market cap of $57.45 billion, a price-to-earnings ratio of 18.61 and a beta of 1.46. BlackRock has a one year low of $280.55 and a one year high of $376.65.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Thursday, July 14th. The company reported $4.78 EPS 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 analysts’ expectations of $2.81 billion. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.96 earnings per share. On average, equities analysts forecast that BlackRock will post $19.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were given a $2.29 dividend. This represents a $9.16 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Wednesday, August 31st. BlackRock’s dividend payout ratio is currently 48.83%.
In related news, Director James Grosfeld sold 25,710 shares of BlackRock stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $372.97, for a total transaction of $9,589,058.70. Following the completion of the sale, the director now owns 514,402 shares in the company, valued at approximately $191,856,513.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Susan Wagner sold 79,346 shares of BlackRock stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $366.35, for a total value of $29,068,407.10. Following the sale, the director now owns 587,365 shares of the company’s stock, valued at approximately $215,181,167.75. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. Ropes Wealth Advisors LLC boosted its stake in BlackRock by 0.3% in the second quarter. Ropes Wealth Advisors LLC now owns 388 shares of the company’s stock worth $133,000 after buying an additional 1 shares in the last quarter. HBK Sorce Advisory LLC boosted its stake in BlackRock by 0.8% in the second quarter. HBK Sorce Advisory LLC now owns 608 shares of the company’s stock worth $208,000 after buying an additional 5 shares in the last quarter. Burke & Herbert Bank & Trust Co. boosted its stake in BlackRock by 0.5% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 1,249 shares of the company’s stock worth $428,000 after buying an additional 6 shares in the last quarter. Private Bank & Trust Co. boosted its stake in BlackRock by 0.6% in the second quarter. Private Bank & Trust Co. now owns 1,331 shares of the company’s stock worth $456,000 after buying an additional 8 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its stake in BlackRock by 0.7% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 1,655 shares of the company’s stock worth $567,000 after buying an additional 12 shares in the last quarter. Hedge funds and other 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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