BlackRock (NYSE:BLK) Price Target Cut to $1,298.00 by Analysts at Deutsche Bank Aktiengesellschaft

BlackRock (NYSE:BLK) had its price target lowered by Deutsche Bank Aktiengesellschaft from $1,305.00 to $1,298.00 in a research report released on Wednesday,MarketScreener reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the asset manager’s stock.

BLK has been the topic of several other research reports. Keefe, Bruyette & Woods lowered their target price on shares of BlackRock from $1,390.00 to $1,322.00 and set an “outperform” rating on the stock in a report on Tuesday. BMO Capital Markets lifted their price objective on BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. The Goldman Sachs Group reiterated a “buy” rating and set a $1,313.00 target price on shares of BlackRock in a research report on Tuesday, December 9th. Jefferies Financial Group raised their price target on BlackRock from $1,196.00 to $1,325.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BlackRock in a report on Monday. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,316.18.

BlackRock Price Performance

BlackRock stock opened at $1,064.89 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.33 and a quick ratio of 3.33. The business has a 50 day simple moving average of $1,086.23 and a 200-day simple moving average of $1,090.35. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,219.94. The stock has a market capitalization of $165.22 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 1.67 and a beta of 1.47.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 14.80%. The business’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter last year, the business earned $11.46 earnings per share. Equities analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Friday, December 5th will be paid a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, December 5th. BlackRock’s dividend payout ratio (DPR) is presently 53.59%.

Insiders Place Their Bets

In other news, CFO Martin Small sold 1,258 shares of BlackRock stock in a transaction on Monday, December 1st. The stock was sold at an average price of $1,043.38, for a total transaction of $1,312,572.04. Following the completion of the transaction, the chief financial officer owned 6,209 shares of the company’s stock, valued at $6,478,346.42. The trade was a 16.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the completion of the sale, the director owned 7,205 shares in the company, valued at $8,394,113.20. This represents a 62.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BlackRock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of BlackRock by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 13,991,264 shares of the asset manager’s stock worth $14,680,334,000 after purchasing an additional 227,192 shares in the last quarter. Geode Capital Management LLC lifted its stake in BlackRock by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 3,143,429 shares of the asset manager’s stock valued at $3,281,641,000 after buying an additional 34,049 shares in the last quarter. Norges Bank acquired a new stake in BlackRock during the 2nd quarter valued at $2,644,007,000. Franklin Resources Inc. increased its position in BlackRock by 72.5% during the second quarter. Franklin Resources Inc. now owns 2,005,358 shares of the asset manager’s stock worth $2,104,122,000 after buying an additional 842,901 shares in the last quarter. Finally, Capital International Investors raised its holdings in shares of BlackRock by 0.6% in the third quarter. Capital International Investors now owns 1,841,088 shares of the asset manager’s stock worth $2,146,663,000 after acquiring an additional 10,591 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Company Profile

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.