ValuEngine Lowers BlackRock (NYSE:BLK) to Sell

ValuEngine cut shares of BlackRock (NYSE:BLK) from a hold rating to a sell rating in a research note published on Wednesday, ValuEngine reports.

A number of other equities analysts have also issued reports on BLK. UBS Group upped their target price on shares of BlackRock from $515.00 to $525.00 and gave the stock a buy rating in a research report on Monday, July 8th. Barclays upped their target price on shares of BlackRock from $515.00 to $540.00 and gave the stock an overweight rating in a research report on Tuesday, July 16th. Morgan Stanley upped their target price on shares of BlackRock from $550.00 to $553.00 and gave the stock an overweight rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of BlackRock from $527.00 to $525.00 and set an overweight rating on the stock in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. BlackRock presently has a consensus rating of Buy and an average target price of $499.03.

NYSE:BLK opened at $442.96 on Wednesday. The firm’s 50-day moving average is $431.71 and its 200-day moving average is $446.17. BlackRock has a 52-week low of $360.79 and a 52-week high of $492.00. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.92 and a current ratio of 2.92. The company has a market cap of $67.20 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.61 and a beta of 1.52.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, July 19th. The asset manager reported $6.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $6.52 by ($0.11). The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.57 billion. BlackRock had a net margin of 30.25% and a return on equity of 13.24%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.66 EPS. Equities analysts predict that BlackRock will post 27.5 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Thursday, September 5th will be issued a $3.30 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $13.20 annualized dividend and a yield of 2.98%. BlackRock’s dividend payout ratio is currently 49.02%.

A number of hedge funds and other institutional investors have recently made changes to their positions in BLK. Nuveen Asset Management LLC lifted its holdings in BlackRock by 20,980.2% in the second quarter. Nuveen Asset Management LLC now owns 895,908 shares of the asset manager’s stock valued at $420,451,000 after buying an additional 891,658 shares during the period. Thoroughbred Financial Services LLC lifted its holdings in BlackRock by 50,843.9% in the second quarter. Thoroughbred Financial Services LLC now owns 485,495 shares of the asset manager’s stock valued at $48,550,000 after buying an additional 484,542 shares during the period. FIL Ltd lifted its holdings in BlackRock by 46.9% in the first quarter. FIL Ltd now owns 416,673 shares of the asset manager’s stock valued at $178,073,000 after buying an additional 132,984 shares during the period. Invesco Ltd. lifted its holdings in BlackRock by 32.9% in the second quarter. Invesco Ltd. now owns 455,232 shares of the asset manager’s stock valued at $213,641,000 after buying an additional 112,605 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its holdings in BlackRock by 35.7% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 380,583 shares of the asset manager’s stock valued at $390,234,000 after buying an additional 100,075 shares during the period. Institutional investors and hedge funds own 81.93% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for BlackRock (NYSE:BLK)

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