BlackRock, Inc. (NYSE:BLK) – Analysts at Jefferies Financial Group reduced their FY2021 earnings per share (EPS) estimates for BlackRock in a research report issued to clients and investors on Monday, October 11th. Jefferies Financial Group analyst D. Fannon now forecasts that the asset manager will post earnings of $38.13 per share for the year, down from their previous forecast of $38.30. Jefferies Financial Group has a “Buy” rating and a $1,075.00 price objective on the stock. Jefferies Financial Group also issued estimates for BlackRock’s FY2023 earnings at $46.24 EPS.
BlackRock (NYSE:BLK) last released its earnings results on Tuesday, October 12th. The asset manager reported $10.95 earnings per share for the quarter, topping the consensus estimate of $9.81 by $1.14. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. The business had revenue of $5.05 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period last year, the company earned $9.22 earnings per share. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year.
NYSE:BLK opened at $867.81 on Thursday. BlackRock has a twelve month low of $587.90 and a twelve month high of $959.89. The company has a market cap of $132.08 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15. The stock has a fifty day simple moving average of $895.01 and a 200-day simple moving average of $866.24. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45.
Several institutional investors have recently added to or reduced their stakes in the stock. Capital Asset Advisory Services LLC lifted its holdings in shares of BlackRock by 5.1% during the third quarter. Capital Asset Advisory Services LLC now owns 1,324 shares of the asset manager’s stock worth $1,110,000 after purchasing an additional 64 shares during the period. Columbia Trust Co 01012016 lifted its holdings in BlackRock by 2.6% in the third quarter. Columbia Trust Co 01012016 now owns 2,880 shares of the asset manager’s stock valued at $2,415,000 after acquiring an additional 74 shares during the period. Silverleafe Capital Partners LLC lifted its holdings in BlackRock by 4.7% in the third quarter. Silverleafe Capital Partners LLC now owns 7,699 shares of the asset manager’s stock valued at $6,457,000 after acquiring an additional 346 shares during the period. Burns J W & Co. Inc. NY lifted its holdings in BlackRock by 2.6% in the third quarter. Burns J W & Co. Inc. NY now owns 969 shares of the asset manager’s stock valued at $813,000 after acquiring an additional 25 shares during the period. Finally, Teamwork Financial Advisors LLC lifted its holdings in BlackRock by 9.3% in the third quarter. Teamwork Financial Advisors LLC now owns 1,656 shares of the asset manager’s stock valued at $1,388,000 after acquiring an additional 141 shares during the period. 78.13% of the stock is owned by hedge funds and other institutional investors.
In other news, General Counsel Christopher J. Meade sold 2,106 shares of the business’s stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $877.24, for a total transaction of $1,847,467.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.16% of the stock is currently owned by insiders.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 22nd. Stockholders of record on Tuesday, September 7th were paid a dividend of $4.13 per share. The ex-dividend date was Friday, September 3rd. This represents a $16.52 dividend on an annualized basis and a dividend yield of 1.90%. BlackRock’s payout ratio is 48.85%.
BlackRock Company Profile
BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.
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