BlackRock (NYSE:BLK) Receives $1,314.71 Consensus Target Price from Brokerages

Shares of BlackRock (NYSE:BLKGet Free Report) have received an average rating of “Moderate Buy” from the twenty ratings firms that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $1,314.7059.

BLK has been the subject of a number of research analyst reports. Bank of America lifted their price target on shares of BlackRock from $1,456.00 to $1,464.00 in a research note on Wednesday, December 10th. UBS Group set a $1,280.00 price objective on shares of BlackRock in a report on Friday, January 16th. BNP Paribas Exane boosted their target price on shares of BlackRock from $1,290.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. Wall Street Zen raised shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $1,313.00 price target on shares of BlackRock in a research note on Tuesday, December 9th.

Read Our Latest Report on BlackRock

BlackRock Stock Down 0.9%

Shares of NYSE BLK opened at $1,117.52 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.33 and a current ratio of 3.33. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94. The stock’s 50-day simple moving average is $1,088.14 and its 200-day simple moving average is $1,107.67. The firm has a market cap of $173.38 billion, a price-to-earnings ratio of 31.55, a PEG ratio of 1.41 and a beta of 1.47.

BlackRock (NYSE:BLKGet Free Report) last issued its quarterly earnings results on Thursday, January 15th. The asset manager reported $13.16 EPS for the quarter, beating analysts’ consensus estimates of $12.55 by $0.61. BlackRock had a return on equity of 15.14% and a net margin of 22.93%.The firm had revenue of $6.33 billion during the quarter, compared to the consensus estimate of $6.80 billion. During the same quarter in the prior year, the business posted $11.93 earnings per share. BlackRock’s revenue for the quarter was up 23.4% on a year-over-year basis. As a group, equities analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Friday, March 6th will be given a $5.73 dividend. This represents a $22.92 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, March 6th. This is a positive change from BlackRock’s previous quarterly dividend of $5.21. BlackRock’s payout ratio is 58.84%.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

Insider Activity at BlackRock

In related news, CFO Martin Small sold 27,047 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $1,171.14, for a total transaction of $31,675,823.58. Following the transaction, the chief financial officer directly owned 10,557 shares in the company, valued at $12,363,724.98. This trade represents a 71.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director J. Richard Kushel sold 20,000 shares of BlackRock stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $1,125.00, for a total transaction of $22,500,000.00. Following the completion of the transaction, the director directly owned 61,894 shares of the company’s stock, valued at approximately $69,630,750. This represents a 24.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 48,305 shares of company stock worth $55,488,396. Corporate insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On BlackRock

Several institutional investors and hedge funds have recently bought and sold shares of BLK. Vanguard Group Inc. raised its position in shares of BlackRock by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager’s stock worth $15,051,846,000 after purchasing an additional 221,123 shares during the period. Geode Capital Management LLC grew its stake in BlackRock by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,143,429 shares of the asset manager’s stock worth $3,281,641,000 after buying an additional 34,049 shares during the last quarter. Norges Bank acquired a new stake in BlackRock in the second quarter worth $2,644,007,000. Franklin Resources Inc. increased its position in BlackRock by 72.5% in the second quarter. Franklin Resources Inc. now owns 2,005,358 shares of the asset manager’s stock worth $2,104,122,000 after buying an additional 842,901 shares during the period. Finally, Capital International Investors lifted its stake in BlackRock by 0.6% in the third quarter. Capital International Investors now owns 1,841,088 shares of the asset manager’s stock valued at $2,146,663,000 after buying an additional 10,591 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Company Profile

(Get Free Report)

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

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Analyst Recommendations for BlackRock (NYSE:BLK)

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