BlackRock (NYSE:BLK) Price Target Raised to $1,120.00

BlackRock (NYSE:BLK) had its price target raised by Barclays from $1,010.00 to $1,120.00 in a research report report published on Monday, Benzinga reports. The firm currently has an overweight rating on the asset manager’s stock.

A number of other research analysts have also commented on BLK. Morgan Stanley upped their price target on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday. Wells Fargo & Company upped their price target on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Argus upped their price target on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Keefe, Bruyette & Woods increased their target price on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Finally, The Goldman Sachs Group increased their target price on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $991.46.

BlackRock Trading Up 0.9 %

Shares of BLK stock opened at $1,015.70 on Monday. The stock has a market capitalization of $150.93 billion, a PE ratio of 25.81, a P/E/G ratio of 1.94 and a beta of 1.30. BlackRock has a 1-year low of $596.18 and a 1-year high of $1,019.22. The business has a 50-day moving average of $909.48 and a 200 day moving average of $834.95. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. BlackRock’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.91 EPS. As a group, sell-side analysts anticipate that BlackRock will post 41.73 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a $5.10 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.01%. BlackRock’s payout ratio is currently 51.84%.

Insider Buying and Selling

In related news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares in the company, valued at $4,826,802.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other BlackRock news, Director Mark Wiedman sold 11,061 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,527,116. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,042 shares of company stock worth $56,857,777 in the last 90 days. Insiders own 0.90% of the company’s stock.

Institutional Trading of BlackRock

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in BlackRock by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after purchasing an additional 292,017 shares during the last quarter. Capital Research Global Investors boosted its stake in BlackRock by 11.1% during the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of BlackRock by 2.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after buying an additional 46,728 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of BlackRock by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after buying an additional 22,311 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of BlackRock by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 685,456 shares of the asset manager’s stock worth $539,673,000 after buying an additional 17,087 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

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.