Jefferies Group LLC reaffirmed their hold rating on shares of BlackRock, Inc. (NYSE:BLK) in a research note issued to investors on Friday morning. Jefferies Group LLC currently has a $440.00 price target on the asset manager’s stock.
BLK has been the topic of several other reports. Morgan Stanley reiterated an overweight rating and issued a $460.00 price target (up from $422.00) on shares of BlackRock in a research report on Monday, July 10th. BidaskClub upgraded shares of BlackRock from a buy rating to a strong-buy rating in a research report on Saturday, July 1st. Deutsche Bank AG reiterated a buy rating and issued a $441.00 price target (down from $449.00) on shares of BlackRock in a research report on Saturday, April 22nd. Credit Suisse Group reiterated an outperform rating and issued a $534.00 price target on shares of BlackRock in a research report on Tuesday, July 18th. Finally, Wells Fargo & Company reiterated a market perform rating and issued a $425.00 price target (up from $380.00) on shares of BlackRock in a research report on Wednesday, July 12th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. BlackRock has an average rating of Buy and an average target price of $443.00.
Shares of BlackRock (NYSE BLK) opened at 416.55 on Friday. The firm has a market cap of $67.57 billion, a PE ratio of 19.99 and a beta of 1.71. The stock has a 50 day moving average of $428.07 and a 200 day moving average of $401.25. BlackRock has a 1-year low of $336.84 and a 1-year high of $442.83.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the consensus estimate of $5.39 by $0.15. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the firm posted $4.78 earnings per share. BlackRock’s revenue was up 5.7% compared to the same quarter last year. Equities research analysts anticipate that BlackRock will post $21.85 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. Stockholders of record on Tuesday, September 5th will be issued a $2.50 dividend. The ex-dividend date is Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.40%. BlackRock’s dividend payout ratio is 47.98%.
In other news, insider Mark Mccombe sold 500 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $405.98, for a total value of $202,990.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Susan Wagner sold 2,500 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $414.31, for a total value of $1,035,775.00. Following the completion of the transaction, the director now owns 484,386 shares in the company, valued at approximately $200,685,963.66. The disclosure for this sale can be found here. Insiders sold a total of 3,772 shares of company stock worth $1,567,516 in the last quarter. 1.86% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Salem Investment Counselors Inc. boosted its stake in shares of BlackRock by 14.3% in the second quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock valued at $101,000 after buying an additional 30 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after buying an additional 85 shares during the last quarter. Enterprise Financial Services Corp boosted its stake in shares of BlackRock by 52.5% in the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after buying an additional 85 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in shares of BlackRock during the second quarter valued at approximately $104,000. Finally, Kings Point Capital Management boosted its stake in shares of BlackRock by 34.5% in the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock valued at $105,000 after buying an additional 70 shares during the last quarter. Institutional investors own 80.33% 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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