BlackRock, Inc. (NYSE:BLK) Receives $1,019.62 Consensus Target Price from Analysts

BlackRock, Inc. (NYSE:BLK) has received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $1,019.62.

A number of research analysts have issued reports on BLK shares. JPMorgan Chase & Co. upped their price objective on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft upped their price objective on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research note on Monday, November 11th. TD Cowen upped their price objective on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Evercore ISI upped their price target on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Barclays upped their price target on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th.

BlackRock Price Performance

Shares of BLK opened at $1,019.45 on Monday. The firm has a market cap of $157.89 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.84 and a beta of 1.30. BlackRock has a 52-week low of $725.86 and a 52-week high of $1,068.34. The business’s 50 day moving average price is $991.35 and its two-hundred day moving average price is $885.16. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the prior year, the company posted $10.91 earnings per share. BlackRock’s revenue was up 14.9% compared to the same quarter last year. On average, equities analysts anticipate that BlackRock will post 43.17 EPS for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be given a dividend of $5.10 per share. The ex-dividend date is Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 2.00%. BlackRock’s dividend payout ratio (DPR) is presently 50.35%.

Insider Activity

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 64.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On BlackRock

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Trust N.A. lifted its holdings in BlackRock by 2.3% in the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after buying an additional 614 shares during the period. Fifth Third Wealth Advisors LLC lifted its stake in shares of BlackRock by 20.4% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock valued at $3,169,000 after purchasing an additional 565 shares during the period. Cetera Investment Advisers lifted its stake in shares of BlackRock by 219.5% in the 1st quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock valued at $36,737,000 after purchasing an additional 30,274 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of BlackRock by 6.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 13,862 shares of the asset manager’s stock valued at $13,162,000 after purchasing an additional 870 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of BlackRock by 62.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,291 shares of the asset manager’s stock valued at $1,804,000 after purchasing an additional 884 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

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.