BlackRock (NYSE:BLK) Price Target Raised to $971.00 at JPMorgan Chase & Co.

BlackRock (NYSE:BLK) had its price objective increased by JPMorgan Chase & Co. from $914.00 to $971.00 in a research note published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the asset manager’s stock.

A number of other analysts have also weighed in on BLK. Barclays reduced their target price on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday. Citigroup lifted their price objective on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. StockNews.com started coverage on shares of BlackRock in a research note on Wednesday, January 8th. They issued a “hold” rating on the stock. Wells Fargo & Company decreased their price target on shares of BlackRock from $1,200.00 to $1,155.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Evercore ISI boosted their price target on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,088.67.

BlackRock Trading Up 0.8 %

Shares of NYSE BLK opened at $962.75 on Tuesday. BlackRock has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company has a market cap of $149.11 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.92 and a beta of 1.28. The business’s 50 day moving average price is $1,029.20 and its 200-day moving average price is $943.81.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s payout ratio is currently 50.35%.

Insider Buying and Selling at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the transaction, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 36,190 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On BlackRock

A number of large investors have recently modified their holdings of BLK. State Street Corp boosted its stake in BlackRock by 0.7% in the 3rd quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock worth $5,681,472,000 after purchasing an additional 42,757 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of BlackRock by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock worth $2,663,330,000 after buying an additional 30,182 shares during the last quarter. FMR LLC lifted its stake in shares of BlackRock by 10.6% during the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after buying an additional 226,135 shares during the period. Fisher Asset Management LLC grew its holdings in shares of BlackRock by 1.9% during the third quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock valued at $2,081,561,000 after buying an additional 40,865 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in BlackRock by 2.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after acquiring an additional 46,728 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

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.