Deutsche Bank Lowers BlackRock (BLK) Price Target to $623.00

BlackRock (NYSE:BLK) had its target price decreased by Deutsche Bank to $623.00 in a research note published on Tuesday. Deutsche Bank currently has a buy rating on the asset manager’s stock.

A number of other equities research analysts also recently commented on BLK. Zacks Investment Research downgraded shares of BlackRock from a buy rating to a hold rating in a research report on Tuesday, December 5th. Credit Suisse Group restated a buy rating and issued a $680.00 price objective on shares of BlackRock in a research report on Friday, January 12th. Jefferies Group raised their price objective on shares of BlackRock to $565.00 and gave the company a hold rating in a research report on Monday, January 15th. Citigroup lifted their price target on shares of BlackRock to $625.00 and gave the company a buy rating in a research report on Tuesday, January 16th. Finally, Wells Fargo & Co reiterated a market perform rating and set a $555.00 price target (up from $535.00) on shares of BlackRock in a research report on Tuesday, January 16th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $560.85.

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Shares of BlackRock (NYSE:BLK) opened at $577.18 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.94 and a quick ratio of 2.94. The company has a market cap of $92,540.00, a PE ratio of 25.01, a P/E/G ratio of 1.47 and a beta of 1.71. BlackRock has a 12-month low of $368.00 and a 12-month high of $594.52.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, beating the Zacks’ consensus estimate of $5.94 by $0.30. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.31%. The firm’s revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.14 earnings per share. equities analysts forecast that BlackRock will post 28.49 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be given a dividend of $2.88 per share. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.00%. This is an increase from BlackRock’s previous quarterly dividend of $2.50. The ex-dividend date of this dividend is Tuesday, March 6th. BlackRock’s dividend payout ratio (DPR) is presently 49.91%.

In related news, COO Robert L. Goldstein sold 5,000 shares of BlackRock stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $558.00, for a total transaction of $2,790,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ryan Stork sold 7,136 shares of BlackRock stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $543.50, for a total value of $3,878,416.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,961 shares of company stock valued at $11,375,444. Insiders own 1.86% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Invictus RG acquired a new position in shares of BlackRock during the 3rd quarter worth approximately $110,000. Sumitomo Mitsui Financial Group Inc. raised its position in shares of BlackRock by 1,119.2% during the 3rd quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock worth $141,000 after purchasing an additional 291 shares during the last quarter. Assetmark Inc. raised its position in shares of BlackRock by 57.1% during the 4th quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock worth $143,000 after purchasing an additional 101 shares during the last quarter. Oakworth Capital Inc. raised its position in shares of BlackRock by 67.6% during the 4th quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock worth $153,000 after purchasing an additional 123 shares during the last quarter. Finally, Manchester Capital Management LLC acquired a new position in shares of BlackRock during the 3rd quarter worth approximately $156,000. Hedge funds and other institutional investors own 82.90% of the company’s stock.

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BlackRock Company Profile

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.

Analyst Recommendations for BlackRock (NYSE:BLK)

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