Shares of BlackRock, Inc. (NYSE: BLK) have received a consensus rating of “Buy” from the fifteen brokerages that cover the company, reports Marketbeat Ratings. Two analysts rated the stock with a conservation rating and twelve gave the company a buy rating. The one-year average price target among brokerage firms that reported on the stock in the past year is $ 961.40.
Several analysts have recently weighed on the company. Jefferies Financial Group increased its target price on BlackRock from $ 1,001.00 to $ 1,075.00 and assigned the company a “buy” rating in a research note on Tuesday, August 31. Morgan Stanley raised its target price on BlackRock from $ 1,021.00 to $ 1,026.00 and rated the stock “overweight” in a research note on Thursday, October 14. BMO Capital Markets lowered its price target for BlackRock shares from $ 797.00 to $ 794.00 and established a “market performance” rating for the company in a report released Thursday, October 14. Bank of America began covering BlackRock in a report on Wednesday, November 3. They issued a “buy” note and a price target of $ 1,080.00 for the company. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on BlackRock shares from $ 1,039.00 to $ 1,008.00 and set a “buy” rating on the stock in a research note on Thursday, October 14. .
BlackRock shares opened at $ 914.91 on Thursday. BlackRock has a one-year low at $ 670.28 and a one-year high at $ 973.16. The company has a 50-day moving average of $ 918.75 and a 200-day moving average of $ 899.01. The company has a market cap of $ 138.99 billion, a PE ratio of 24.33, a price / earnings-growth ratio of 2.16, and a beta of 1.18. The company has a current ratio of 3.04, a quick ratio of 3.04, and a debt to equity ratio of 0.56.
BlackRock (NYSE: BLK) last reported its results on Wednesday, October 13. The asset manager reported earnings per share (EPS) of $ 10.95 for the quarter, beating analyst consensus estimates of $ 9.81 by $ 1.14. The company posted revenue of $ 5.05 billion for the quarter, compared to $ 4.82 billion according to analysts’ estimates. BlackRock had a return on equity of 16.72% and a net margin of 30.97%. BlackRock’s revenue for the quarter increased 15.6% from the same quarter last year. During the same period of the previous year, the company made a profit of $ 9.22 per share. Research analysts predict that BlackRock will post earnings per share of 38.93 for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 23. Shareholders of record on Tuesday, December 7 will receive a dividend of $ 4.13. The ex-dividend date for this dividend is Monday, December 6. This represents a dividend of $ 16.52 on an annualized basis and a dividend yield of 1.81%. BlackRock’s dividend payout ratio is currently 43.94%.
In addition, director J. Richard Kushel sold 405 shares in a transaction dated Monday, November 8. The shares were sold at an average price of $ 964.45, for a total trade of $ 390,602.25. The sale was disclosed in a legal file with the SEC, which can be accessed through this hyperlink. Additionally, CEO Laurence Fink sold 16,365 shares of the company in a transaction dated Thursday, December 2. The stock was sold for an average price of $ 920.92, for a total trade of $ 15,070,855.80. Disclosure of this sale can be found here. Insiders have sold a total of 39,017 shares of the company valued at $ 36,055,061 in the past 90 days. 1.16% of the shares are currently held by insiders.
A number of hedge funds have recently changed their holdings in the company. Strategy Asset Managers LLC increased its stake in BlackRock by 4.7% in the 3rd quarter. Strategy Asset Managers LLC now owns 575 shares of the asset manager valued at $ 482,000 after purchasing 26 additional shares during the period. Jackson Wealth Management LLC increased its stake in BlackRock by 21.3% during the 3rd quarter. Jackson Wealth Management LLC now owns 11,154 shares of the asset manager valued at $ 412,000 after acquiring an additional 1,957 shares in the last quarter. Moors & Cabot Inc. increased its stake in BlackRock by 1.3% during the 3rd quarter. Moors & Cabot Inc. now owns 8,740 shares of the asset manager valued at $ 7,339,000 after acquiring 115 additional shares during the last quarter. Homrich & Berg increased its position in BlackRock by 5.2% during the 3rd quarter. Homrich & Berg now owns 1,385 shares of the asset manager valued at $ 1,161,000 after purchasing 69 additional shares during the period. Finally, Guinness Asset Management LTD increased its position in BlackRock shares by 1.7% in the 3rd quarter. Guinness Asset Management LTD now owns 67,015 shares of the asset manager valued at $ 64,086,000 after acquiring 1,148 additional shares during the period. 77.75% of the shares are currently held by institutional investors.
BlackRock, Inc is committed to providing investment management, risk management, and advisory services to institutional and retail clients worldwide. Its products include portfolios with one or more asset classes investing in equities, fixed income securities, alternatives and money market instruments. The company was founded by Ralph L.
See also: Which sectors are represented in the Nikkei index?
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in BlackRock now?
Before you consider BlackRock, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold of… and BlackRock was not on the list.
While BlackRock currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here