Brokerages Set BlackRock, Inc. (NYSE:BLK) Target Price at $496.03

Shares of BlackRock, Inc. (NYSE:BLK) have been assigned an average rating of “Buy” from the fifteen analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $498.95.

A number of research firms have recently weighed in on BLK. Morgan Stanley upped their price target on shares of BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. ValuEngine downgraded shares of BlackRock from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. 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 note on Monday, July 22nd. Credit Suisse Group set a $567.00 price target on shares of BlackRock and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, UBS Group upped their price target on shares of BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a research note on Monday, July 8th.

Institutional investors have recently bought and sold shares of the business. Comerica Securities Inc. boosted its holdings in BlackRock by 6.4% during the fourth quarter. Comerica Securities Inc. now owns 2,912 shares of the asset manager’s stock valued at $1,144,000 after acquiring an additional 174 shares during the period. Geode Capital Management LLC boosted its holdings in BlackRock by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 1,443,990 shares of the asset manager’s stock valued at $566,150,000 after acquiring an additional 60,941 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in BlackRock by 80.8% during the first quarter. Robeco Institutional Asset Management B.V. now owns 10,283 shares of the asset manager’s stock valued at $4,395,000 after acquiring an additional 4,596 shares during the period. Cornerstone Advisors Inc. boosted its holdings in BlackRock by 7.4% during the first quarter. Cornerstone Advisors Inc. now owns 594 shares of the asset manager’s stock valued at $254,000 after acquiring an additional 41 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in BlackRock by 216.0% during the first quarter. Victory Capital Management Inc. now owns 31,117 shares of the asset manager’s stock valued at $13,298,000 after acquiring an additional 21,271 shares during the period. 81.83% of the stock is currently owned by hedge funds and other institutional investors.



Shares of NYSE BLK traded up $0.41 during mid-day trading on Friday, reaching $444.39. The company had a trading volume of 1,232,263 shares, compared to its average volume of 574,861. BlackRock has a twelve month low of $360.79 and a twelve month high of $489.55. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.92 and a current ratio of 2.92. The stock has a market capitalization of $67.89 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 1.62 and a beta of 1.52. The stock’s 50 day moving average is $427.36 and its 200-day moving average is $446.17.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, July 19th. The asset manager reported $6.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $6.52 by ($0.11). BlackRock had a return on equity of 13.24% and a net margin of 30.25%. The company had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the company posted $6.66 earnings per share. The company’s revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that BlackRock will post 27.53 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Thursday, September 5th will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, September 4th. BlackRock’s payout ratio is 49.02%.

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.

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Analyst Recommendations for BlackRock (NYSE:BLK)

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