BlackRock, Inc. (NYSE:BLK) – Investment analysts at Gabelli lifted their FY2017 EPS estimates for BlackRock in a research report issued to clients and investors on Tuesday. Gabelli analyst M. Sykes now anticipates that the asset manager will post earnings per share of $22.47 for the year, up from their prior forecast of $22.13. Gabelli also issued estimates for BlackRock’s FY2022 earnings at $50.25 EPS.
Several other analysts have also weighed in on the company. Zacks Investment Research lowered BlackRock from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Wells Fargo & Co restated a “market perform” rating and set a $475.00 price target (up previously from $450.00) on shares of BlackRock in a report on Thursday, October 12th. JPMorgan Chase & Co. increased their price target on BlackRock to $558.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research note on Thursday, October 12th. Finally, Jefferies Group reiterated a “hold” rating and issued a $465.00 target price on shares of BlackRock in a research note on Thursday, October 12th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. BlackRock currently has an average rating of “Buy” and an average price target of $489.08.
BlackRock (NYSE:BLK) last released its quarterly earnings results 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. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the firm posted $5.14 EPS. BlackRock’s quarterly revenue was up 14.0% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 21st. Shareholders of record on Monday, December 4th were paid a $2.50 dividend. The ex-dividend date of this dividend was Friday, December 1st. This represents a $10.00 dividend on an annualized basis and a yield of 1.88%. BlackRock’s payout ratio is 46.82%.
In other news, insider Jeff A. Smith sold 100 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $477.54, for a total transaction of $47,754.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Susan Wagner sold 4,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $506.10, for a total value of $2,024,400.00. Following 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. Company insiders own 1.86% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of BlackRock by 8.4% during the 2nd 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 grew its position in shares of BlackRock by 12.9% during the 2nd quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after buying an additional 810,667 shares in the last quarter. BlackRock Inc. grew its position in shares of BlackRock by 3.2% during the 2nd quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock worth $2,851,570,000 after buying an additional 209,209 shares in the last quarter. Third Point LLC bought a new stake in BlackRock during the second quarter valued at about $654,736,000. Finally, The Manufacturers Life Insurance Company boosted its position in BlackRock by 2.8% during the second quarter. The Manufacturers Life Insurance Company now owns 652,317 shares of the asset manager’s stock valued at $275,544,000 after purchasing an additional 18,054 shares in the last quarter. 83.54% of the stock is currently owned by institutional investors and hedge funds.
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.
What are top analysts saying about BlackRock? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for BlackRock and related companies.