Zacks Investment Research downgraded shares of BlackRock (NYSE:BLK) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

According to Zacks, “Shares of BlackRock have marginally outperformed the industry in the past three months. The company’s earnings surpassed the Zacks Consensus Estimate in all of the trailing four quarters. Estimates have been going down lately ahead of the company's fourth-quarter 2018 earnings release. While the company is undertaking initiatives to restructure its actively managed equity business and expand globally via acquisitions to further boost top line, mounting expenses, mainly due to continued rise in marketing costs, might hurt bottom-line growth to some extent. Moreover, the company's high dependence on overseas revenues remains a matter of concern as it might hamper financials, going forward.”

Several other equities research analysts have also commented on the stock. Bank of America reissued a buy rating and issued a $478.00 price target (down previously from $525.00) on shares of BlackRock in a report on Thursday, December 6th. Argus cut their price target on shares of BlackRock from $620.00 to $535.00 and set a buy rating for the company in a report on Wednesday, October 17th. ValuEngine lowered shares of BlackRock from a hold rating to a sell rating in a report on Friday, October 12th. Wells Fargo & Co cut their price target on shares of BlackRock from $545.00 to $510.00 and set a market perform rating for the company in a report on Thursday, October 11th. Finally, Deutsche Bank reissued a buy rating and issued a $550.00 price target (down previously from $559.00) on shares of BlackRock in a report on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. BlackRock presently has a consensus rating of Buy and a consensus price target of $513.08.

BLK opened at $397.91 on Tuesday. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.76. BlackRock has a 1 year low of $360.79 and a 1 year high of $594.52. The firm has a market capitalization of $63.11 billion, a P/E ratio of 17.61, a PEG ratio of 1.39 and a beta of 1.43.

BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, October 16th. The asset manager reported $7.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.93 by $0.59. BlackRock had a net margin of 39.92% and a return on equity of 13.72%. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the previous year, the business posted $5.76 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts forecast that BlackRock will post 27.63 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 26th. Stockholders of record on Friday, December 7th were issued a dividend of $3.13 per share. This represents a $12.52 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Thursday, December 6th. BlackRock’s payout ratio is 55.40%.

In other news, Director William E. Ford acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 22nd. The stock was purchased at an average price of $395.21 per share, with a total value of $790,420.00. Following the completion of the acquisition, the director now owns 9,466 shares of the company’s stock, valued at approximately $3,741,057.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J. Richard Kushel sold 2,100 shares of the company’s stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $419.11, for a total transaction of $880,131.00. The disclosure for this sale can be found here. Corporate insiders own 1.75% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Highwater Wealth Management LLC acquired a new position in BlackRock in the fourth quarter valued at about $41,000. Moody National Bank Trust Division lifted its position in shares of BlackRock by 73.9% during the fourth quarter. Moody National Bank Trust Division now owns 200 shares of the asset manager’s stock worth $78,000 after purchasing an additional 85 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of BlackRock during the third quarter worth about $116,000. Canton Hathaway LLC acquired a new stake in shares of BlackRock during the third quarter worth about $146,000. Finally, Legacy Advisors LLC lifted its position in shares of BlackRock by 79.8% during the third quarter. Legacy Advisors LLC now owns 338 shares of the asset manager’s stock worth $159,000 after purchasing an additional 150 shares in the last quarter. 82.43% of the stock is currently owned by institutional investors.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.

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