Barclays Boosts BlackRock (NYSE:BLK) Price Target to $540.00

BlackRock (NYSE:BLK) had its price objective upped by Barclays from $515.00 to $540.00 in a report published on Tuesday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the asset manager’s stock.

Other equities analysts have also recently issued research reports about the stock. Citigroup boosted their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock a neutral rating in a research note on Monday, April 15th. Morgan Stanley cut their price objective on shares of Virtus Investment Partners from $121.00 to $118.00 and set an equal weight rating for the company in a research note on Tuesday, July 9th. Zacks Investment Research cut shares of GasLog Partners LP Unit from a hold rating to a strong sell rating in a research note on Tuesday, April 2nd. Wells Fargo & Co reaffirmed a buy rating on shares of Morgan Stanley in a research note on Wednesday, April 17th. Finally, UBS Group upped their price objective on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the company a neutral rating in a research note on Monday, July 8th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $503.95.

BLK stock opened at $473.24 on Tuesday. The company has a current ratio of 3.49, a quick ratio of 3.49 and a debt-to-equity ratio of 0.83. BlackRock has a one year low of $360.79 and a one year high of $513.00. The stock has a market cap of $72.78 billion, a PE ratio of 17.57, a PEG ratio of 1.70 and a beta of 1.52. The business has a 50 day moving average of $458.80.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, July 19th. The asset manager reported $6.41 EPS for the quarter, missing the Zacks’ consensus estimate of $6.52 by ($0.11). BlackRock had a return on equity of 13.46% and a net margin of 30.58%. The company had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the prior year, the firm earned $6.66 EPS. BlackRock’s quarterly revenue was down 2.2% on a year-over-year basis. On average, sell-side analysts forecast that BlackRock will post 27.67 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Thursday, September 5th will be paid a $3.30 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.79%. BlackRock’s dividend payout ratio (DPR) is 49.02%.

In other BlackRock news, insider Jeff A. Smith sold 150 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $478.29, for a total transaction of $71,743.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Laurence Fink sold 31,250 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $481.79, for a total transaction of $15,055,937.50. The disclosure for this sale can be found here. Insiders have sold a total of 31,475 shares of company stock valued at $15,163,636 in the last three months. 1.42% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Marino Stram & Associates LLC boosted its position in BlackRock by 36.2% during the 2nd quarter. Marino Stram & Associates LLC now owns 1,139 shares of the asset manager’s stock valued at $534,000 after buying an additional 303 shares during the period. Garner Asset Management Corp raised its holdings in BlackRock by 5.3% in the 2nd quarter. Garner Asset Management Corp now owns 1,400 shares of the asset manager’s stock worth $657,000 after purchasing an additional 70 shares in the last quarter. G&S Capital LLC raised its holdings in BlackRock by 103.4% in the 2nd quarter. G&S Capital LLC now owns 7,678 shares of the asset manager’s stock worth $3,603,000 after purchasing an additional 3,904 shares in the last quarter. SeaCrest Wealth Management LLC raised its holdings in BlackRock by 21.9% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 506 shares of the asset manager’s stock worth $237,000 after purchasing an additional 91 shares in the last quarter. Finally, Davy Asset Management Ltd bought a new position in BlackRock in the 2nd quarter worth $1,624,000. 81.31% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for BlackRock (NYSE:BLK)

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