BlackRock, Inc. (BLK) Receives $485.00 Average PT from Brokerages

BlackRock, Inc. (NYSE:BLK) has earned an average rating of “Buy” from the thirteen analysts that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $485.00.

Several analysts recently weighed in on the stock. Wells Fargo & Company reiterated a “market perform” rating and issued a $475.00 price objective (up from $450.00) on shares of BlackRock in a research report on Thursday, October 12th. J P Morgan Chase & Co raised their target price on shares of BlackRock to $558.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Credit Suisse Group reissued an “outperform” rating on shares of BlackRock in a research note on Thursday, October 12th. Jefferies Group reissued a “hold” rating and set a $465.00 target price on shares of BlackRock in a research note on Thursday, October 12th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $500.00 target price on shares of BlackRock in a research note on Thursday, October 12th.

Shares of BlackRock (NYSE:BLK) traded up $11.42 during trading hours on Friday, reaching $513.50. 716,880 shares of the company traded hands, compared to its average volume of 528,515. The company has a market cap of $80,499.49, a P/E ratio of 23.30, a PEG ratio of 1.75 and a beta of 1.81. BlackRock has a 12-month low of $365.83 and a 12-month high of $515.60. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.49 by $0.43. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. BlackRock’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the firm posted $5.14 EPS. sell-side analysts anticipate that BlackRock will post 22.29 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Monday, December 4th will be paid a dividend of $2.50 per share. The ex-dividend date is Friday, December 1st. This represents a $10.00 annualized dividend and a yield of 1.95%. BlackRock’s payout ratio is 46.82%.

In other news, insider Robert W. Fairbairn sold 3,675 shares of BlackRock stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total value of $1,526,264.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan Wagner sold 4,000 shares of BlackRock stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the completion of the transaction, the director now directly owns 481,915 shares in the company, valued at approximately $243,897,181.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,875 shares of company stock worth $4,125,566. 1.86% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in BLK. Third Point LLC acquired a new position in shares of BlackRock in the 2nd quarter worth approximately $654,736,000. Harbour Capital Advisors LLC grew its stake in shares of BlackRock by 38,807.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock worth $2,848,000 after purchasing an additional 1,199,932 shares during the last quarter. Capital World Investors grew its stake in shares of BlackRock by 12.9% in the 2nd quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after purchasing an additional 810,667 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of BlackRock by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after purchasing an additional 656,569 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of BlackRock by 207.1% in the 2nd quarter. Principal Financial Group Inc. now owns 527,380 shares of the asset manager’s stock worth $222,771,000 after purchasing an additional 355,630 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

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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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