BlackRock (NYSE:BLK) Price Target Raised to $1,380.00

BlackRock (NYSE:BLKFree Report) had its target price upped by Deutsche Bank Aktiengesellschaft from $1,296.00 to $1,380.00 in a research note published on Thursday, Marketbeat Ratings reports.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $1,313.00 price target on shares of BlackRock in a research note on Tuesday, December 9th. Evercore ISI boosted their target price on BlackRock from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. JPMorgan Chase & Co. raised their price target on BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. BNP Paribas Exane lifted their price target on BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Finally, Cowen cut BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday. Fifteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and an average target price of $1,314.71.

View Our Latest Report on BLK

BlackRock Trading Up 0.7%

NYSE:BLK opened at $1,164.72 on Thursday. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,219.94. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.34. The stock’s 50 day simple moving average is $1,071.82 and its 200-day simple moving average is $1,105.02. The firm has a market cap of $180.71 billion, a P/E ratio of 32.88, a PEG ratio of 1.68 and a beta of 1.47.

BlackRock (NYSE:BLKGet Free Report) last posted its quarterly earnings data on Thursday, January 15th. The asset manager reported $13.16 earnings per share for the quarter, beating analysts’ consensus estimates of $12.55 by $0.61. The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.80 billion. BlackRock had a net margin of 22.93% and a return on equity of 15.14%. BlackRock’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period last year, the firm posted $11.93 EPS. Equities analysts anticipate that BlackRock will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Friday, March 6th will be paid a dividend of $5.73 per share. This is a positive change from BlackRock’s previous quarterly dividend of $5.21. The ex-dividend date of this dividend is Friday, March 6th. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.0%. BlackRock’s dividend payout ratio is 58.84%.

Insider Buying and Selling

In related news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the transaction, the director owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Martin Small sold 1,258 shares of BlackRock stock in a transaction on Monday, December 1st. The shares were sold at an average price of $1,043.38, for a total value of $1,312,572.04. Following the completion of the sale, the chief financial officer directly owned 6,209 shares of the company’s stock, valued at approximately $6,478,346.42. This represents a 16.85% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BlackRock

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLK. Norges Bank purchased a new stake in BlackRock during the second quarter worth approximately $2,644,007,000. Laurel Wealth Advisors LLC lifted its holdings in shares of BlackRock by 105,267.4% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,705,899 shares of the asset manager’s stock valued at $1,789,915,000 after acquiring an additional 1,704,280 shares in the last quarter. Franklin Resources Inc. boosted its position in BlackRock by 72.5% during the 2nd quarter. Franklin Resources Inc. now owns 2,005,358 shares of the asset manager’s stock worth $2,104,122,000 after purchasing an additional 842,901 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in BlackRock by 1,962.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 792,494 shares of the asset manager’s stock valued at $831,524,000 after purchasing an additional 754,060 shares during the period. Finally, Viking Global Investors LP lifted its stake in shares of BlackRock by 217.5% during the third quarter. Viking Global Investors LP now owns 619,492 shares of the asset manager’s stock worth $722,247,000 after purchasing an additional 424,388 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

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About BlackRock

(Get Free Report)

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

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