Jefferies Group LLC restated their hold rating on shares of BlackRock, Inc. (NYSE:BLK) in a research report report published on Friday morning. They currently have a $440.00 target price on the asset manager’s stock.

BLK has been the subject of several other reports. BidaskClub raised BlackRock from a buy rating to a strong-buy rating in a report on Saturday, July 1st. Morgan Stanley reissued an overweight rating and issued a $460.00 price target (up from $422.00) on shares of BlackRock in a report on Monday, July 10th. Deutsche Bank AG reissued a buy rating and issued a $441.00 price target (down from $449.00) on shares of BlackRock in a report on Saturday, April 22nd. Keefe, Bruyette & Woods reissued a hold rating and issued a $440.00 price target on shares of BlackRock in a report on Friday, July 14th. Finally, Zacks Investment Research cut BlackRock from a buy rating to a hold rating in a report on Wednesday, July 19th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $443.00.

Shares of BlackRock (NYSE BLK) opened at 415.37 on Friday. The company’s 50 day moving average price is $427.87 and its 200-day moving average price is $401.97. The firm has a market cap of $67.38 billion, a P/E ratio of 19.94 and a beta of 1.71. BlackRock has a 12-month low of $336.84 and a 12-month high of $442.83.

BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the consensus estimate of $5.39 by $0.15. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the business posted $4.78 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that BlackRock will post $21.85 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be issued a dividend of $2.50 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.41%. BlackRock’s dividend payout ratio is presently 47.98%.

In other BlackRock news, Director Susan Wagner sold 2,500 shares of the firm’s 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 owns 484,386 shares of the company’s stock, valued at $200,685,963.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeff A. Smith sold 250 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The disclosure for this sale can be found here. Insiders have sold 3,772 shares of company stock valued at $1,567,516 in the last three months. 1.86% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in BLK. Financial Architects Inc increased its position in BlackRock by 0.7% in the second quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock valued at $123,000 after buying an additional 2 shares during the last quarter. Davis R M Inc. increased its position in BlackRock by 0.4% in the second quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock valued at $238,000 after buying an additional 2 shares during the last quarter. Eqis Capital Management Inc. increased its position in BlackRock by 0.5% in the first quarter. Eqis Capital Management Inc. now owns 609 shares of the asset manager’s stock valued at $233,000 after buying an additional 3 shares during the last quarter. National Asset Management Inc. increased its position in BlackRock by 0.4% in the first quarter. National Asset Management Inc. now owns 716 shares of the asset manager’s stock valued at $275,000 after buying an additional 3 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its position in BlackRock by 1.2% in the second quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock valued at $111,000 after buying an additional 3 shares during the last quarter. 80.33% of the stock is owned by institutional investors.

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.

Analyst Recommendations for BlackRock (NYSE:BLK)

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