BlackRock (NYSE:BLK) Given New $1,160.00 Price Target at Keefe, Bruyette & Woods

BlackRock (NYSE:BLK) had its price objective trimmed by Keefe, Bruyette & Woods from $1,225.00 to $1,160.00 in a report published on Monday,Benzinga reports. The firm currently has an outperform rating on the asset manager’s stock.

Several other research firms have also issued reports on BLK. StockNews.com initiated coverage on BlackRock in a report on Wednesday, January 8th. They set a “hold” rating on the stock. Wells Fargo & Company decreased their target price on shares of BlackRock from $1,200.00 to $1,155.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Barclays dropped their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research report on Monday. Evercore ISI increased their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, TD Cowen boosted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,088.67.

BlackRock Price Performance

Shares of BlackRock stock opened at $1,012.62 on Monday. The company has a 50-day simple moving average of $1,029.20 and a two-hundred day simple moving average of $943.81. BlackRock has a twelve month low of $745.55 and a twelve month high of $1,082.45. The stock has a market capitalization of $156.83 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 1.92 and a beta of 1.28. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.52 by $0.41. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the previous year, the company posted $9.66 earnings per share. Analysts forecast that BlackRock will post 43.18 EPS for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were issued a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is 50.35%.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Trading of BlackRock

Institutional investors have recently modified their holdings of the business. FSA Wealth Management LLC acquired a new position in shares of BlackRock in the third quarter worth approximately $26,000. Fairscale Capital LLC acquired a new position in BlackRock in the second quarter valued at $31,000. Reston Wealth Management LLC bought a new stake in BlackRock during the third quarter valued at $37,000. MFA Wealth Advisors LLC grew its holdings in BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after acquiring an additional 20 shares during the period. Finally, West Financial Advisors LLC bought a new position in shares of BlackRock in the 4th quarter worth about $39,000. Institutional investors own 80.69% of the company’s stock.

About BlackRock

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.