BlackRock, Inc. (BLK) PT Raised to $558.00 at J P Morgan Chase & Co
BlackRock, Inc. (NYSE:BLK) had its target price lifted by J P Morgan Chase & Co to $558.00 in a report issued on Thursday morning. The firm currently has an overweight rating on the asset manager’s stock.
A number of other equities analysts have also commented on BLK. Jefferies Group LLC restated a hold rating and set a $465.00 price objective on shares of BlackRock in a research note on Thursday. Keefe, Bruyette & Woods restated a hold rating and set a $500.00 price objective on shares of BlackRock in a research note on Thursday. Zacks Investment Research upgraded BlackRock from a hold rating to a buy rating and set a $501.00 price objective on the stock in a research note on Tuesday, October 3rd. Credit Suisse Group reiterated an outperform rating on shares of BlackRock in a research note on Thursday. Finally, Barclays PLC lifted their price target on BlackRock from $475.00 to $500.00 and gave the company an overweight rating in a research note on Tuesday, October 10th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $478.50.
Shares of BlackRock (BLK) opened at 475.49 on Thursday. BlackRock has a 12 month low of $336.84 and a 12 month high of $485.23. The company has a market capitalization of $76.84 billion, a PE ratio of 22.27 and a beta of 1.72. The firm has a 50-day moving average price of $437.85 and a 200-day moving average price of $416.14.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the company earned $5.14 EPS. The company’s revenue was up 14.0% on a year-over-year basis. On average, equities research analysts predict that BlackRock will post $22.35 EPS for the current year.
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The company 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 was Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a yield of 2.10%. BlackRock’s dividend payout ratio is currently 46.82%.
In related news, Director J. Richard Kushel sold 100 shares of the business’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $481.58, for a total transaction of $48,158.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jeff A. Smith sold 250 shares of the business’s stock in a transaction 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. Insiders have sold a total of 5,547 shares of company stock worth $2,382,163 in the last 90 days. 1.86% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Everett Harris & Co. CA grew its position in BlackRock by 9.2% during the 2nd quarter. Everett Harris & Co. CA now owns 100,143 shares of the asset manager’s stock worth $42,301,000 after acquiring an additional 8,478 shares during the last quarter. Stifel Financial Corp lifted its holdings in BlackRock by 19.1% during the 1st quarter. Stifel Financial Corp now owns 170,590 shares of the asset manager’s stock worth $65,487,000 after buying an additional 27,321 shares during the period. Canada Pension Plan Investment Board lifted its holdings in BlackRock by 48.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 101,703 shares of the asset manager’s stock worth $42,960,000 after buying an additional 33,400 shares during the period. Blue Chip Partners Inc. lifted its holdings in BlackRock by 8.5% during the 2nd quarter. Blue Chip Partners Inc. now owns 13,440 shares of the asset manager’s stock worth $5,677,000 after buying an additional 1,055 shares during the period. Finally, KBC Group NV lifted its holdings in BlackRock by 35.1% during the 1st quarter. KBC Group NV now owns 50,282 shares of the asset manager’s stock worth $19,284,000 after buying an additional 13,065 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.
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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