BlackRock, Inc. (NYSE:BLK) Receives Consensus Rating of “Buy” from Brokerages

Shares of BlackRock, Inc. (NYSE:BLK) have earned a consensus rating of “Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $953.31.

A number of research firms have commented on BLK. Morgan Stanley lifted their target price on shares of BlackRock from $944.00 to $1,017.00 and gave the stock an “overweight” rating in a report on Friday, July 9th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of BlackRock from $1,018.00 to $1,001.00 and set a “buy” rating for the company in a report on Thursday, July 15th. Evercore ISI reaffirmed a “buy” rating on shares of BlackRock in a report on Sunday, June 6th. Argus lifted their target price on shares of BlackRock from $950.00 to $975.00 and gave the stock a “buy” rating in a report on Thursday, July 15th. Finally, Citigroup boosted their price target on shares of BlackRock from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Monday, July 12th.

In related news, General Counsel Christopher J. Meade sold 2,106 shares of the company’s stock in a transaction on Tuesday, July 20th. The shares were sold at an average price of $877.24, for a total value of $1,847,467.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 175 shares of the stock in a transaction dated Thursday, July 15th. The shares were sold at an average price of $884.50, for a total transaction of $154,787.50. The disclosure for this sale can be found here. 1.16% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in BlackRock by 0.4% in the second quarter. Vanguard Group Inc. now owns 12,124,607 shares of the asset manager’s stock worth $10,608,668,000 after acquiring an additional 43,970 shares during the period. BlackRock Inc. grew its stake in BlackRock by 0.6% during the second quarter. BlackRock Inc. now owns 9,903,465 shares of the asset manager’s stock valued at $8,665,235,000 after acquiring an additional 56,702 shares in the last quarter. FMR LLC grew its stake in BlackRock by 11.0% during the second quarter. FMR LLC now owns 3,892,865 shares of the asset manager’s stock valued at $3,406,141,000 after acquiring an additional 386,410 shares in the last quarter. Capital International Investors grew its stake in BlackRock by 5.9% in the 2nd quarter. Capital International Investors now owns 2,905,820 shares of the asset manager’s stock worth $2,542,497,000 after buying an additional 161,443 shares in the last quarter. Finally, Column Capital Advisors LLC grew its stake in BlackRock by 24,840.7% in the 1st quarter. Column Capital Advisors LLC now owns 2,703,325 shares of the asset manager’s stock worth $2,703,000 after buying an additional 2,692,486 shares in the last quarter. Institutional investors and hedge funds own 78.13% of the company’s stock.

BLK stock traded down $14.31 during trading on Tuesday, hitting $901.95. The company had a trading volume of 532,877 shares, compared to its average volume of 579,376. The firm has a 50-day moving average price of $904.21 and a 200-day moving average price of $847.00. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. BlackRock has a 12 month low of $531.39 and a 12 month high of $959.89. The stock has a market cap of $137.27 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 2.40 and a beta of 1.15.

BlackRock (NYSE:BLK) last released its earnings results on Tuesday, July 13th. The asset manager reported $10.03 EPS for the quarter, topping analysts’ consensus estimates of $9.33 by $0.70. BlackRock had a net margin of 30.39% and a return on equity of 16.30%. The firm had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.61 billion. During the same quarter in the previous year, the business earned $7.85 EPS. The business’s quarterly revenue was up 33.7% compared to the same quarter last year. Equities analysts expect that BlackRock will post 38.24 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 22nd. Investors of record on Tuesday, September 7th will be paid a $4.13 dividend. This represents a $16.52 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Friday, September 3rd. BlackRock’s payout ratio is presently 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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Analyst Recommendations for BlackRock (NYSE:BLK)

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