BlackRock, Inc. (NYSE:BLK) – Stock analysts at Jefferies Group increased their Q3 2017 earnings per share (EPS) estimates for shares of BlackRock in a research report issued on Tuesday. Jefferies Group analyst D. Fannon now expects that the asset manager will earn $5.63 per share for the quarter, up from their prior forecast of $5.58. Jefferies Group currently has a “Hold” rating and a $465.00 target price on the stock. Jefferies Group also issued estimates for BlackRock’s Q4 2017 earnings at $6.09 EPS, FY2017 earnings at $22.19 EPS and FY2018 earnings at $25.15 EPS.
A number of other brokerages have also weighed in on BLK. Wells Fargo & Company reissued a “market perform” rating and issued a $475.00 price objective (up from $450.00) on shares of BlackRock in a report on Thursday. J P Morgan Chase & Co increased their price objective on BlackRock to $558.00 and gave the company an “overweight” rating in a report on Thursday. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $500.00 price objective on shares of BlackRock in a report on Thursday. Credit Suisse Group reissued an “outperform” rating on shares of BlackRock in a report on Thursday. Finally, Barclays PLC increased their price objective on BlackRock from $475.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. BlackRock presently has a consensus rating of “Buy” and a consensus target price of $478.50.
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BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, topping the consensus estimate of $5.49 by $0.43. BlackRock had a return on equity of 12.09% and a net margin of 29.52%. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period last year, the company earned $5.14 EPS. BlackRock’s revenue for the quarter was up 14.0% on a year-over-year basis.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in BlackRock by 8.4% during the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after buying an additional 656,569 shares in the last quarter. Capital World Investors increased its stake in BlackRock by 12.9% during the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after acquiring an additional 810,667 shares during the last quarter. BlackRock Inc. increased its stake in BlackRock by 3.2% during the second quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock worth $2,851,570,000 after acquiring an additional 209,209 shares during the last quarter. State Street Corp increased its stake in BlackRock by 2.1% during the first quarter. State Street Corp now owns 5,445,766 shares of the asset manager’s stock worth $2,088,501,000 after acquiring an additional 112,993 shares during the last quarter. Finally, UBS Group AG increased its stake in BlackRock by 40.2% during the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock worth $650,563,000 after acquiring an additional 486,502 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.
In related news, insider Robert W. Fairbairn sold 3,675 shares of BlackRock stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total transaction of $1,526,264.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jeff A. Smith sold 250 shares of BlackRock stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,447 shares of company stock worth $1,855,015. 1.86% of the stock is currently owned by company insiders.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Tuesday, September 5th were given a dividend of $2.50 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a yield of 2.08%. BlackRock’s payout ratio is 46.82%.
BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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