Wells Fargo & Co reaffirmed their market perform rating on shares of BlackRock (NYSE:BLK) in a research report sent to investors on Tuesday, January 16th, The Fly reports. The firm currently has a $555.00 target price on the asset manager’s stock, up from their prior target price of $535.00.
Several other equities research analysts also recently weighed in on the company. Jefferies Group increased their price objective on BlackRock to $565.00 and gave the company a hold rating in a report on Monday, January 15th. Credit Suisse Group reaffirmed a buy rating and set a $680.00 price target on shares of BlackRock in a report on Friday, January 12th. Barclays increased their price target on BlackRock from $475.00 to $500.00 and gave the stock an overweight rating in a report on Tuesday, October 10th. Citigroup increased their price target on BlackRock to $625.00 and gave the stock a buy rating in a report on Tuesday, January 16th. Finally, Morgan Stanley reaffirmed an overweight rating and set a $501.00 price target (up from $476.00) on shares of BlackRock in a report on Thursday, October 5th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $547.92.
BlackRock (BLK) traded up $11.92 during mid-day trading on Tuesday, hitting $521.51. 938,570 shares of the company were exchanged, compared to its average volume of 714,473. The stock has a market capitalization of $83,610.00, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 1.40 and a beta of 1.75. BlackRock has a 12-month low of $368.00 and a 12-month high of $594.52. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.94 by $0.30. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The firm’s revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the firm posted $5.14 earnings per share. sell-side analysts forecast that BlackRock will post 28.52 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be given a $2.88 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.21%. This is a boost from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio (DPR) is currently 33.00%.
In related news, Director Susan Wagner sold 4,000 shares of BlackRock stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the completion of the sale, the director now owns 481,915 shares in the company, valued at approximately $243,897,181.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeff A. Smith sold 100 shares of BlackRock stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $477.54, for a total value of $47,754.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,775 shares of company stock valued at $2,983,400. Company insiders own 1.86% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of BLK. Salem Investment Counselors Inc. lifted its stake in shares of BlackRock by 14.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock valued at $101,000 after purchasing an additional 30 shares in the last quarter. Invictus RG acquired a new position in shares of BlackRock in the 3rd quarter valued at about $110,000. Harfst & Associates Inc. lifted its stake in shares of BlackRock by 17.3% in the 2nd quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock valued at $111,000 after purchasing an additional 39 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of BlackRock by 133.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 280 shares of the asset manager’s stock valued at $118,000 after purchasing an additional 160 shares in the last quarter. Finally, Oakworth Capital Inc. lifted its stake in shares of BlackRock by 67.6% in the 4th quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock valued at $153,000 after purchasing an additional 123 shares in the last quarter. Institutional investors own 83.27% of the company’s stock.
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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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