Shares of BlackRock, Inc. (NYSE:BLK) have earned a consensus recommendation of “Buy” from the fifteen analysts that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $560.85.
A number of research analysts recently weighed in on BLK shares. ValuEngine downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday. Citigroup downgraded shares of BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 target price for the company. in a research report on Thursday, January 25th. Argus reaffirmed a “buy” rating and issued a $620.00 target price (up previously from $520.00) on shares of BlackRock in a research report on Tuesday, January 16th. Credit Suisse Group reaffirmed a “buy” rating and issued a $680.00 target price on shares of BlackRock in a research report on Friday, January 12th. Finally, Zacks Investment Research downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th.
Shares of BlackRock (NYSE:BLK) opened at $577.18 on Friday. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.93. BlackRock has a 12-month low of $368.00 and a 12-month high of $594.52. The stock has a market cap of $92,763.22, a price-to-earnings ratio of 19.05, a PEG ratio of 1.55 and a beta of 1.71.
BlackRock (NYSE:BLK) last released its earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share for the quarter, beating analysts’ consensus estimates of $5.94 by $0.30. The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.31%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.14 earnings per share. research analysts expect that BlackRock will post 28.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th will be paid a $2.88 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $11.52 dividend on an annualized basis and a yield of 2.00%. This is a boost from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio (DPR) is currently 38.02%.
In other news, Director Deryck C. Maughan purchased 3,861 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was purchased at an average price of $573.44 per share, for a total transaction of $2,214,051.84. Following the completion of the purchase, the director now directly owns 12,265 shares in the company, valued at approximately $7,033,241.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeff A. Smith sold 425 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $565.96, for a total transaction of $240,533.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,961 shares of company stock valued at $11,375,444. Corporate insiders own 1.86% of the company’s stock.
A number of hedge funds have recently made changes to their positions in BLK. Nationwide Fund Advisors lifted its stake in BlackRock by 1.4% in the third quarter. Nationwide Fund Advisors now owns 34,552 shares of the asset manager’s stock valued at $15,448,000 after acquiring an additional 487 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of BlackRock by 12.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 26,130 shares of the asset manager’s stock worth $11,687,000 after buying an additional 2,991 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of BlackRock by 20.0% during the 3rd quarter. Victory Capital Management Inc. now owns 8,029 shares of the asset manager’s stock worth $3,590,000 after buying an additional 1,337 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its stake in shares of BlackRock by 13.8% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 1,100 shares of the asset manager’s stock worth $492,000 after buying an additional 133 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of BlackRock by 49.5% during the 3rd quarter. American Century Companies Inc. now owns 178,241 shares of the asset manager’s stock worth $79,690,000 after buying an additional 59,001 shares during the last quarter. Hedge funds and other institutional investors own 82.90% of the company’s stock.
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BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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