Shares of BlackRock, Inc. (NYSE:BLK – Get Free Report) have received an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $872.29.
A number of research firms recently issued reports on BLK. Evercore ISI raised their price objective on shares of BlackRock from $910.00 to $920.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Argus lifted their price objective on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. TD Cowen reduced their target price on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday, July 8th. UBS Group lowered their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th.
Read Our Latest Report on BlackRock
BlackRock Price Performance
BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The company had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period last year, the firm posted $9.28 earnings per share. BlackRock’s revenue was up 7.7% compared to the same quarter last year. Sell-side analysts predict that BlackRock will post 41.23 earnings per share for the current fiscal year.
BlackRock Announces Dividend
The business also recently disclosed 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. This represents a $20.40 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.
Insider Activity
In related news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,407,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. Insiders sold a total of 66,978 shares of company stock worth $54,692,570 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.
Institutional Investors Weigh In On BlackRock
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tennessee Valley Asset Management Partners purchased a new stake in BlackRock during the 4th quarter valued at $27,000. Redmont Wealth Advisors LLC bought a new position in BlackRock during the first quarter valued at $27,000. Private Wealth Management Group LLC purchased a new stake in shares of BlackRock in the fourth quarter valued at $28,000. Pineridge Advisors LLC purchased a new position in shares of BlackRock during the 4th quarter worth about $28,000. Finally, LFA Lugano Financial Advisors SA boosted its stake in shares of BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after purchasing an additional 25 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.
About BlackRock
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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