BlackRock, Inc. (NYSE:BLK) – Research analysts at Jefferies Financial Group dropped their FY2018 earnings per share estimates for BlackRock in a research report issued on Wednesday, January 9th. Jefferies Financial Group analyst D. Fannon now anticipates that the asset manager will post earnings of $27.30 per share for the year, down from their previous estimate of $27.68. Jefferies Financial Group currently has a “Hold” rating and a $427.00 target price on the stock. Jefferies Financial Group also issued estimates for BlackRock’s Q4 2018 earnings at $6.41 EPS, Q1 2019 earnings at $6.18 EPS, Q2 2019 earnings at $6.64 EPS, Q3 2019 earnings at $6.80 EPS, Q4 2019 earnings at $7.07 EPS, FY2019 earnings at $26.68 EPS and FY2020 earnings at $29.99 EPS.
Other equities analysts have also issued research reports about the company. Deutsche Bank restated a “buy” rating and issued a $550.00 target price (down previously from $559.00) on shares of BlackRock in a research note on Thursday, October 11th. Morgan Stanley reduced their price objective on BlackRock from $607.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, October 9th. UBS Group reduced their price objective on BlackRock from $575.00 to $565.00 and set a “buy” rating for the company in a research note on Monday, October 8th. JPMorgan Chase & Co. lifted their price objective on BlackRock from $541.00 to $592.00 and gave the company a “buy” rating in a research note on Monday, October 8th. Finally, Argus reduced their price objective on BlackRock from $620.00 to $535.00 and set a “buy” rating for the company in a research note on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $513.08.
BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 16th. The asset manager reported $7.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $6.93 by $0.59. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.65 billion. BlackRock had a return on equity of 13.72% and a net margin of 39.92%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $5.76 EPS.
Several institutional investors have recently made changes to their positions in the stock. Highwater Wealth Management LLC acquired a new stake in BlackRock in the 4th quarter worth about $41,000. Moody National Bank Trust Division boosted its holdings in BlackRock by 73.9% in the 4th quarter. Moody National Bank Trust Division now owns 200 shares of the asset manager’s stock worth $78,000 after buying an additional 85 shares during the last quarter. Truvestments Capital LLC acquired a new stake in BlackRock in the 3rd quarter worth about $116,000. Canton Hathaway LLC acquired a new stake in BlackRock in the 3rd quarter worth about $146,000. Finally, Legacy Advisors LLC boosted its holdings in BlackRock by 79.8% in the 3rd quarter. Legacy Advisors LLC now owns 338 shares of the asset manager’s stock worth $159,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 82.43% of the company’s stock.
In other BlackRock news, Director William E. Ford purchased 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 17th. The stock was purchased at an average price of $409.59 per share, for a total transaction of $819,180.00. Following the purchase, the director now directly owns 7,466 shares in the company, valued at $3,057,998.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J. Richard Kushel sold 2,100 shares of BlackRock stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $419.11, for a total value of $880,131.00. The disclosure for this sale can be found here. 1.75% of the stock is owned by insiders.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 26th. Investors of record on Friday, December 7th were paid a $3.13 dividend. The ex-dividend date was Thursday, December 6th. This represents a $12.52 annualized dividend and a dividend yield of 3.15%. BlackRock’s dividend payout ratio is presently 55.40%.
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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