BlackRock, Inc. (NYSE:BLK) Rating Reiterated by Credit Suisse Group
Credit Suisse Group reissued their outperform rating on shares of BlackRock, Inc. (NYSE:BLK) in a research note published on Tuesday. They currently have a $534.00 price target on the asset manager’s stock.
A number of other equities analysts also recently commented on the stock. Keefe, Bruyette & Woods restated a hold rating and set a $440.00 price objective on shares of BlackRock in a research report on Friday, July 14th. Wells Fargo & Company restated a market perform rating and set a $425.00 price objective (up previously from $380.00) on shares of BlackRock in a research report on Wednesday, July 12th. Morgan Stanley restated an overweight rating and set a $460.00 price objective (up previously from $422.00) on shares of BlackRock in a research report on Monday, July 10th. Deutsche Bank AG upped their price objective on shares of BlackRock from $447.00 to $449.00 and gave the stock a buy rating in a research report on Tuesday, July 4th. Finally, BidaskClub upgraded shares of BlackRock from a buy rating to a strong-buy rating in a research report on Saturday, July 1st. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. BlackRock has an average rating of Buy and a consensus price target of $434.93.
BlackRock (NYSE BLK) opened at 428.65 on Tuesday. The stock has a market cap of $69.81 billion, a PE ratio of 20.57 and a beta of 1.71. The firm has a 50-day moving average of $424.10 and a 200-day moving average of $394.52. BlackRock has a 12-month low of $336.84 and a 12-month high of $442.84.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the Zacks’ consensus estimate of $5.39 by $0.15. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. BlackRock had a return on equity of 11.79% and a net margin of 29.92%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.78 EPS. Equities analysts predict that BlackRock will post $21.90 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be issued a dividend of $2.50 per share. The ex-dividend date is Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.33%. BlackRock’s dividend payout ratio (DPR) is currently 47.98%.
In other BlackRock news, insider Jeff A. Smith sold 522 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $421.52, for a total transaction of $220,033.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan Wagner sold 2,500 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $414.31, for a total transaction of $1,035,775.00. Following the transaction, the director now owns 484,386 shares of the company’s stock, valued at $200,685,963.66. The disclosure for this sale can be found here. Insiders have sold a total of 3,522 shares of company stock valued at $1,458,798 over the last 90 days. 1.86% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its position in BlackRock by 51.0% in the fourth quarter. AQR Capital Management LLC now owns 13,419 shares of the asset manager’s stock valued at $5,106,000 after buying an additional 4,530 shares during the period. Quadrature Capital Ltd acquired a new position in BlackRock during the fourth quarter valued at $3,923,000. Ibex Wealth Advisors acquired a new position in BlackRock during the fourth quarter valued at $796,000. Migdal Insurance & Financial Holdings Ltd. increased its position in BlackRock by 95.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 43,140 shares of the asset manager’s stock valued at $16,417,000 after buying an additional 21,075 shares during the period. Finally, HighPoint Advisor Group LLC acquired a new position in BlackRock during the fourth quarter valued at $291,000. Hedge funds and other institutional investors own 80.85% 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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