BlackRock (NYSE:BLK) Downgraded to Sell at ValuEngine

ValuEngine cut shares of BlackRock (NYSE:BLK) from a hold rating to a sell rating in a research report released on Wednesday morning, ValuEngine reports.

Several other analysts have also commented on the stock. Barclays raised their price target on shares of BlackRock from $515.00 to $540.00 and gave the company an overweight rating in a research report on Tuesday, July 16th. Morgan Stanley raised their price target on shares of BlackRock from $550.00 to $553.00 and gave the company an overweight rating in a research report on Monday, July 22nd. UBS Group raised their price target on shares of BlackRock from $515.00 to $525.00 and gave the company a buy rating in a research report on Monday, July 8th. Finally, 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 report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $499.03.

Shares of NYSE:BLK traded up $1.92 during midday trading on Wednesday, reaching $434.75. The company’s stock had a trading volume of 580,532 shares, compared to its average volume of 569,685. The firm has a market capitalization of $66.60 billion, a PE ratio of 16.14, a P/E/G ratio of 1.59 and a beta of 1.52. BlackRock has a twelve month low of $360.79 and a twelve month high of $492.00. The stock has a fifty day moving average of $432.46 and a 200 day moving average of $446.15. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 0.77.



BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, July 19th. The asset manager reported $6.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $6.52 by ($0.11). The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.57 billion. BlackRock had a net margin of 30.25% and a return on equity of 13.24%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.66 EPS. Sell-side analysts anticipate that BlackRock will post 27.5 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Thursday, September 5th will be given a $3.30 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $13.20 annualized dividend and a dividend yield of 3.04%. BlackRock’s dividend payout ratio (DPR) is 49.02%.

Several hedge funds and other institutional investors have recently made changes to their positions in BLK. Nuveen Asset Management LLC grew its position in shares of BlackRock by 20,980.2% in the second quarter. Nuveen Asset Management LLC now owns 895,908 shares of the asset manager’s stock valued at $420,451,000 after purchasing an additional 891,658 shares during the period. Thoroughbred Financial Services LLC grew its position in shares of BlackRock by 50,843.9% in the second quarter. Thoroughbred Financial Services LLC now owns 485,495 shares of the asset manager’s stock valued at $48,550,000 after purchasing an additional 484,542 shares during the period. FIL Ltd grew its position in shares of BlackRock by 46.9% in the first quarter. FIL Ltd now owns 416,673 shares of the asset manager’s stock valued at $178,073,000 after purchasing an additional 132,984 shares during the period. Invesco Ltd. grew its position in shares of BlackRock by 32.9% in the second quarter. Invesco Ltd. now owns 455,232 shares of the asset manager’s stock valued at $213,641,000 after purchasing an additional 112,605 shares during the period. Finally, Amundi Pioneer Asset Management Inc. grew its position in shares of BlackRock by 35.7% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 380,583 shares of the asset manager’s stock valued at $390,234,000 after purchasing an additional 100,075 shares during the period. Institutional investors and hedge funds own 81.93% of the company’s stock.

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.

Further Reading: Neutral Rating

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for BlackRock (NYSE:BLK)

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