Other equities research analysts have also recently issued research reports about the stock. UBS Group lifted their price target on shares of BlackRock from $515.00 to $525.00 and gave the company a buy rating in a research note on Monday, July 8th. Credit Suisse Group set a $567.00 price target on shares of BlackRock and gave the company a buy rating in a research note on Thursday, September 12th. ValuEngine cut shares of BlackRock from a hold rating to a sell rating in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on shares of BlackRock from $527.00 to $525.00 and set an overweight rating on the stock in a research note on Monday, July 22nd. Finally, Barclays reissued a buy rating and issued a $485.00 price target on shares of BlackRock in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $500.60.
BlackRock stock opened at $434.00 on Wednesday. The company’s fifty day moving average price is $429.09 and its 200 day moving average price is $446.64. BlackRock has a 1 year low of $360.79 and a 1 year high of $487.45. The stock has a market capitalization of $64.48 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.51 and a beta of 1.54. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.92 and a current ratio of 2.92.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, July 19th. The asset manager reported $6.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.11). BlackRock had a net margin of 30.25% and a return on equity of 13.24%. The company had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the business posted $6.66 EPS. BlackRock’s revenue was down 2.2% compared to the same quarter last year. Sell-side analysts predict that BlackRock will post 27.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Thursday, September 5th were paid a dividend of $3.30 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $13.20 annualized dividend and a yield of 3.04%. BlackRock’s dividend payout ratio (DPR) is presently 49.02%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Advisory Alpha LLC acquired a new stake in BlackRock during the 1st quarter worth $26,000. Virtus ETF Advisers LLC acquired a new stake in BlackRock during the 2nd quarter worth $27,000. Massey Quick Simon & CO. LLC acquired a new stake in BlackRock during the 2nd quarter worth $31,000. MRA Associates USA LLC acquired a new stake in BlackRock during the 2nd quarter worth $33,000. Finally, Ellevest Inc. boosted its stake in BlackRock by 89.2% during the 2nd quarter. Ellevest Inc. now owns 70 shares of the asset manager’s stock worth $33,000 after purchasing an additional 33 shares during the last quarter. 81.83% of the stock is currently owned by institutional investors.
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.
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