BlackRock, Inc. (NYSE:BLK) Receives $883.47 Average PT from Analysts

BlackRock, Inc. (NYSE:BLK) has been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $902.13.

Several equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Wells Fargo & Company started coverage on shares of BlackRock in a research note on Thursday, September 12th. They set an “overweight” rating and a $1,000.00 target price on the stock. Evercore ISI increased their price target on BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Argus boosted their price objective on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Citigroup increased their target price on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,042 shares of company stock worth $79,387,117. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On BlackRock

Large investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new position in BlackRock during the 2nd quarter worth approximately $24,957,000. SRN Advisors LLC increased its holdings in shares of BlackRock by 45.1% during the second quarter. SRN Advisors LLC now owns 2,155 shares of the asset manager’s stock valued at $1,697,000 after acquiring an additional 670 shares in the last quarter. Farmers National Bank raised its position in shares of BlackRock by 1.3% during the second quarter. Farmers National Bank now owns 7,605 shares of the asset manager’s stock worth $5,988,000 after purchasing an additional 98 shares during the period. Dana Investment Advisors Inc. grew its position in BlackRock by 1.3% in the 2nd quarter. Dana Investment Advisors Inc. now owns 3,089 shares of the asset manager’s stock valued at $2,432,000 after purchasing an additional 41 shares during the period. Finally, New Century Financial Group LLC increased its stake in BlackRock by 245.2% during the 2nd quarter. New Century Financial Group LLC now owns 901 shares of the asset manager’s stock valued at $709,000 after purchasing an additional 640 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Up 1.1 %

NYSE BLK opened at $904.83 on Wednesday. BlackRock has a fifty-two week low of $596.18 and a fifty-two week high of $908.88. The business has a fifty day moving average price of $862.13 and a two-hundred day moving average price of $815.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The stock has a market capitalization of $134.46 billion, a PE ratio of 22.99, a PEG ratio of 1.92 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating the consensus estimate of $9.96 by $0.40. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. BlackRock’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $9.28 earnings per share. Equities analysts expect that BlackRock will post 41.34 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be issued a dividend of $5.10 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.25%. BlackRock’s payout ratio is 51.84%.

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.