BlackRock, Inc. (BLK) Receives Average Rating of “Hold” from Brokerages
BlackRock, Inc. (NYSE:BLK) has received a consensus rating of “Hold” from the thirteen research firms that are covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $410.77.
A number of research analysts have issued reports on BLK shares. J P Morgan Chase & Co reissued a “buy” rating on shares of BlackRock in a report on Wednesday, March 8th. Morgan Stanley reaffirmed a “buy” rating on shares of BlackRock in a research note on Saturday, March 18th. Deutsche Bank AG upped their target price on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $387.00 price objective on shares of BlackRock in a research note on Wednesday, May 17th.
BlackRock (NYSE BLK) traded down 0.120% during midday trading on Friday, reaching $421.865. 120,343 shares of the company were exchanged. The company has a 50-day moving average of $398.76 and a 200 day moving average of $386.89. BlackRock has a 52 week low of $317.60 and a 52 week high of $423.47. The firm has a market capitalization of $68.71 billion, a PE ratio of 20.726 and a beta of 1.67.
BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, April 19th. The asset manager reported $5.25 EPS for the quarter, beating the Zacks’ consensus estimate of $4.94 by $0.31. The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.86 billion. BlackRock had a return on equity of 11.62% and a net margin of 29.74%. BlackRock’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.25 earnings per share. Equities analysts predict that BlackRock will post $21.72 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Monday, June 5th will be paid a dividend of $2.50 per share. The ex-dividend date is Thursday, June 1st. This represents a $10.00 dividend on an annualized basis and a yield of 2.37%. BlackRock’s dividend payout ratio is presently 49.14%.
In related news, Director Susan Wagner sold 2,500 shares of BlackRock stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $414.31, for a total transaction of $1,035,775.00. Following the completion of the transaction, the director now directly owns 484,386 shares of the company’s stock, valued at $200,685,963.66. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Mark Mccombe sold 500 shares of the business’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $405.98, for a total value of $202,990.00. The disclosure for this sale can be found here. Company insiders own 1.86% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC increased its stake in BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after buying an additional 85 shares during the period. Kings Point Capital Management increased its stake in shares of BlackRock by 34.5% in the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock valued at $105,000 after buying an additional 70 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of BlackRock during the first quarter valued at $108,000. Peoples Financial Services CORP. bought a new stake in shares of BlackRock during the first quarter valued at $115,000. Finally, Twin Tree Management LP increased its stake in shares of BlackRock by 131.2% in the first quarter. Twin Tree Management LP now owns 343 shares of the asset manager’s stock valued at $132,000 after buying an additional 1,443 shares during the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.
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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