BlackRock (NYSE:BLK) Receives Average Recommendation of “Buy” from Analysts

BlackRock (NYSE:BLKGet Free Report) has been assigned a consensus recommendation of “Buy” from the eighteen brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $1,304.2941.

Several equities analysts have recently issued reports on the stock. TD Cowen dropped their price target on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,258.00 target price on shares of BlackRock in a report on Thursday, July 16th. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,389.00 price target on shares of BlackRock in a research report on Thursday, July 16th. Morgan Stanley raised their price objective on BlackRock from $1,383.00 to $1,488.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Evercore restated an “outperform” rating and set a $1,145.00 price target on shares of BlackRock in a report on Friday, July 10th.

View Our Latest Stock Report on BLK

BlackRock Stock Performance

NYSE BLK opened at $1,056.84 on Friday. The firm’s fifty day moving average price is $1,031.34 and its two-hundred day moving average price is $1,042.28. The stock has a market cap of $163.80 billion, a PE ratio of 25.26, a PEG ratio of 1.17 and a beta of 1.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, beating the consensus estimate of $12.69 by $1.22. BlackRock had a return on equity of 15.01% and a net margin of 24.09%.The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter last year, the business posted $12.05 EPS. BlackRock’s revenue for the quarter was up 30.6% on a year-over-year basis. On average, equities analysts expect that BlackRock will post 55.63 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th were given a dividend of $5.73 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. BlackRock’s dividend payout ratio is 54.78%.

Insider Activity

In other news, CEO Laurence Fink sold 33,900 shares of BlackRock stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the completion of the transaction, the chief executive officer directly owned 230,516 shares of the company’s stock, valued at approximately $242,168,583.80. This trade represents a 12.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Robert Kapito sold 8,739 shares of BlackRock stock in a transaction on Monday, April 27th. The shares were sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the completion of the sale, the president directly owned 210,186 shares of the company’s stock, valued at approximately $222,082,527.60. This trade represents a 3.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.92% of the company’s stock.

Institutional Trading of BlackRock

A number of institutional investors and hedge funds have recently modified their holdings of the business. RMG Wealth Management LLC purchased a new stake in BlackRock during the first quarter valued at about $25,000. Evolution Wealth Management Inc. bought a new position in BlackRock in the 4th quarter worth approximately $26,000. Birchbrook Inc. purchased a new position in BlackRock in the 4th quarter valued at approximately $31,000. LFA Lugano Financial Advisors SA bought a new stake in BlackRock during the 4th quarter valued at $32,000. Finally, Basepoint Wealth LLC bought a new stake in BlackRock during the 4th quarter valued at $32,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

BlackRock Company Profile

(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.

See Also

Analyst Recommendations for BlackRock (NYSE:BLK)

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