Argus restated their buy rating on shares of BlackRock (NYSE:BLK) in a report released on Thursday, January 17th.
Other research analysts have also recently issued reports about the stock. Bank of America reaffirmed a buy rating and set a $478.00 target price (down from $525.00) on shares of BlackRock in a report on Thursday, December 6th. ValuEngine cut shares of BlackRock from a hold rating to a sell rating in a research note on Friday, October 12th. Wells Fargo & Co decreased their price objective on shares of BlackRock from $545.00 to $510.00 and set a market perform rating on the stock in a research note on Thursday, October 11th. Deutsche Bank reissued a buy rating and issued a $550.00 price objective (down from $559.00) on shares of BlackRock in a research note on Thursday, October 11th. Finally, JPMorgan Chase & Co. upgraded shares of BlackRock to an overweight rating in a research report on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $503.03.
NYSE:BLK traded down $3.25 during mid-day trading on Thursday, hitting $411.76. The stock had a trading volume of 567,035 shares, compared to its average volume of 706,130. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.07 and a current ratio of 3.07. The company has a market capitalization of $64.94 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. BlackRock has a twelve month low of $360.79 and a twelve month high of $578.80.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, January 16th. The asset manager reported $6.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $6.35 by ($0.27). The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.47 billion. BlackRock had a return on equity of 13.53% and a net margin of 30.32%. The company’s revenue was down 8.8% on a year-over-year basis. During the same quarter last year, the business earned $6.24 earnings per share. As a group, equities analysts forecast that BlackRock will post 25.88 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 3.21%. This is an increase from BlackRock’s previous quarterly dividend of $3.13. The ex-dividend date of this dividend is Tuesday, March 5th. BlackRock’s dividend payout ratio is presently 46.49%.
In related news, insider Mark Mccombe sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $417.04, for a total transaction of $1,251,120.00. Following the sale, the insider now directly owns 30,543 shares in the company, valued at approximately $12,737,652.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director J. Richard Kushel sold 2,100 shares of the company’s stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $419.11, for a total transaction of $880,131.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,929 shares of company stock worth $36,214,650. Corporate insiders own 1.75% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Rehmann Capital Advisory Group grew its holdings in shares of BlackRock by 51,763.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,084,461 shares of the asset manager’s stock valued at $2,300,000 after purchasing an additional 1,082,370 shares during the last quarter. Capital International Investors bought a new position in shares of BlackRock during the 3rd quarter valued at $477,939,000. Flossbach Von Storch AG grew its holdings in shares of BlackRock by 114.1% during the 4th quarter. Flossbach Von Storch AG now owns 582,743 shares of the asset manager’s stock valued at $228,913,000 after purchasing an additional 310,623 shares during the last quarter. Beutel Goodman & Co Ltd. bought a new position in shares of BlackRock during the 4th quarter valued at $6,039,000. Finally, Capital World Investors grew its holdings in shares of BlackRock by 1.8% during the 3rd quarter. Capital World Investors now owns 8,353,670 shares of the asset manager’s stock valued at $3,937,335,000 after purchasing an additional 148,805 shares during the last quarter. 82.17% of the stock is currently owned by institutional investors and hedge funds.
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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