BlackRock, Inc. (NYSE:BLK – Get Free Report) has been assigned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $764.75.
Several research analysts have recently issued reports on BLK shares. Wells Fargo & Company dropped their price objective on shares of BlackRock from $820.00 to $720.00 and set an “overweight” rating on the stock in a report on Wednesday, October 4th. Jefferies Financial Group dropped their price objective on shares of BlackRock from $781.00 to $754.00 in a report on Tuesday, October 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of BlackRock from $814.00 to $800.00 and set a “buy” rating on the stock in a report on Wednesday, October 11th. Bank of America dropped their price objective on shares of BlackRock from $921.00 to $868.00 in a report on Wednesday, October 4th. Finally, StockNews.com initiated coverage on shares of BlackRock in a report on Thursday, October 5th. They set a “hold” rating on the stock.
BlackRock Stock Performance
BlackRock (NYSE:BLK – Get Free Report) last announced its earnings results on Friday, October 13th. The asset manager reported $10.91 EPS for the quarter, topping the consensus estimate of $8.34 by $2.57. The firm had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.52 billion. BlackRock had a net margin of 30.66% and a return on equity of 14.65%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $9.55 EPS. As a group, analysts expect that BlackRock will post 36.44 earnings per share for the current year.
BlackRock Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Thursday, December 7th will be given a $5.00 dividend. The ex-dividend date is Wednesday, December 6th. This represents a $20.00 dividend on an annualized basis and a yield of 2.77%. BlackRock’s dividend payout ratio (DPR) is presently 56.10%.
Insider Buying and Selling at BlackRock
In other BlackRock news, CEO Laurence Fink sold 15,385 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $652.03, for a total value of $10,031,481.55. Following the transaction, the chief executive officer now directly owns 435,260 shares in the company, valued at $283,802,577.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.96% of the company’s stock.
Hedge Funds Weigh In On BlackRock
Large investors have recently modified their holdings of the stock. Impact Partnership Wealth LLC acquired a new position in shares of BlackRock during the second quarter worth approximately $25,000. OLD Point Trust & Financial Services N A acquired a new position in shares of BlackRock during the second quarter worth approximately $26,000. West Tower Group LLC bought a new stake in shares of BlackRock during the second quarter worth approximately $27,000. Archer Investment Corp bought a new stake in shares of BlackRock during the second quarter worth approximately $29,000. Finally, WFA of San Diego LLC bought a new stake in shares of BlackRock during the second quarter worth approximately $33,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.
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.
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