BlackRock (NYSE:BLK) had its price target boosted by UBS Group from $515.00 to $525.00 in a research note released on Monday morning, BenzingaRatingsTable reports. UBS Group currently has a buy rating on the asset manager’s stock.

Several other analysts also recently weighed in on BLK. Deutsche Bank lifted their price objective on shares of T. Rowe Price Group from $91.00 to $94.00 and gave the company a hold rating in a research report on Friday, March 15th. Morgan Stanley set a $60.00 price objective on shares of Berry Global Group and gave the company a hold rating in a research report on Wednesday, April 17th. Barclays set a $24.00 price objective on shares of Tenet Healthcare and gave the company a hold rating in a research report on Wednesday, April 17th. Wells Fargo & Co reiterated a buy rating on shares of Morgan Stanley in a research report on Wednesday, April 17th. Finally, Zacks Investment Research downgraded shares of GasLog Partners LP Unit from a hold rating to a strong sell rating in a research report on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $506.88.

Shares of NYSE:BLK opened at $480.07 on Monday. The company has a market cap of $73.48 billion, a P/E ratio of 17.83, a PEG ratio of 1.71 and a beta of 1.52. The firm has a 50-day moving average price of $451.60. BlackRock has a fifty-two week low of $360.79 and a fifty-two week high of $513.00. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.49 and a current ratio of 3.49.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, April 16th. The asset manager reported $6.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.13 by $0.48. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.30 billion. BlackRock had a net margin of 30.58% and a return on equity of 13.46%. BlackRock’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the firm posted $6.48 EPS. As a group, sell-side analysts anticipate that BlackRock will post 27.85 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were paid a dividend of $3.30 per share. The ex-dividend date was Wednesday, June 5th. This represents a $13.20 annualized dividend and a yield of 2.75%. BlackRock’s payout ratio is 49.02%.

In other news, Chairman Laurence Fink sold 31,250 shares of BlackRock stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $481.79, for a total value of $15,055,937.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gary Shedlin sold 2,750 shares of BlackRock stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $467.99, for a total transaction of $1,286,972.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,525 shares of company stock worth $16,591,075. 1.42% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. EP Wealth Advisors LLC grew its stake in shares of BlackRock by 13.8% in the 1st quarter. EP Wealth Advisors LLC now owns 37,649 shares of the asset manager’s stock worth $16,090,000 after purchasing an additional 4,555 shares during the last quarter. Xact Kapitalforvaltning AB increased its position in shares of BlackRock by 19.6% in the first quarter. Xact Kapitalforvaltning AB now owns 28,867 shares of the asset manager’s stock worth $12,337,000 after acquiring an additional 4,729 shares in the last quarter. Smith Moore & CO. increased its position in shares of BlackRock by 14.6% in the fourth quarter. Smith Moore & CO. now owns 590 shares of the asset manager’s stock worth $232,000 after acquiring an additional 75 shares in the last quarter. National Asset Management Inc. increased its position in shares of BlackRock by 10.0% in the first quarter. National Asset Management Inc. now owns 1,578 shares of the asset manager’s stock worth $676,000 after acquiring an additional 144 shares in the last quarter. Finally, Rehmann Capital Advisory Group increased its position in shares of BlackRock by 19.0% in the first quarter. Rehmann Capital Advisory Group now owns 2,568 shares of the asset manager’s stock worth $1,098,000 after acquiring an additional 410 shares in the last quarter. 81.29% 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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Analyst Recommendations for BlackRock (NYSE:BLK)

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