BlackRock (NYSE:BLK) Given Consensus Rating of “Moderate Buy” by Brokerages

BlackRock (NYSE:BLKGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the twenty analysts that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $1,311.1111.

Several research firms have recently issued reports on BLK. Barclays upped their target price on BlackRock from $1,300.00 to $1,350.00 and gave the company an “overweight” rating in a report on Friday, January 16th. BNP Paribas Exane upped their price objective on BlackRock from $1,290.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. Keefe, Bruyette & Woods raised their target price on BlackRock from $1,310.00 to $1,340.00 and gave the company an “outperform” rating in a research report on Friday, January 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $1,296.00 to $1,380.00 in a report on Thursday, January 15th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $1,313.00 price objective on shares of BlackRock in a report on Tuesday, December 9th.

Get Our Latest Research Report on BlackRock

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

Insider Transactions at BlackRock

In other news, Director Stephen Cohen sold 2,179 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $1,073.87, for a total transaction of $2,339,962.73. Following the transaction, the director owned 6,543 shares of the company’s stock, valued at $7,026,331.41. This represents a 24.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert L. Goldstein sold 54,190 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $1,087.29, for a total value of $58,920,245.10. Following the transaction, the chief operating officer owned 51,478 shares of the company’s stock, valued at $55,971,514.62. The trade was a 51.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 109,967 shares of company stock worth $122,487,380 in the last ninety days. Company insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On BlackRock

Institutional investors have recently added to or reduced their stakes in the business. Pacifica Partners Inc. raised its position in shares of BlackRock by 450.0% in the third quarter. Pacifica Partners Inc. now owns 22 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 18 shares during the period. TruNorth Capital Management LLC grew its stake in BlackRock by 1,000.0% in the 3rd quarter. TruNorth Capital Management LLC now owns 22 shares of the asset manager’s stock valued at $26,000 after buying an additional 20 shares in the last quarter. Evolution Wealth Management Inc. purchased a new position in BlackRock in the 4th quarter valued at approximately $26,000. Traub Capital Management LLC bought a new stake in BlackRock during the 2nd quarter valued at $28,000. Finally, Whipplewood Advisors LLC lifted its position in shares of BlackRock by 107.1% during the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after acquiring an additional 15 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Trading Up 0.3%

Shares of BlackRock stock opened at $1,074.80 on Wednesday. The stock has a fifty day simple moving average of $1,093.81 and a 200 day simple moving average of $1,105.31. The company has a market capitalization of $166.76 billion, a P/E ratio of 30.34, a price-to-earnings-growth ratio of 1.34 and a beta of 1.47. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.34. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,219.94.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings results on Thursday, January 15th. The asset manager reported $13.16 earnings per share for the quarter, topping the consensus estimate of $12.55 by $0.61. The business had revenue of $6.33 billion for the quarter, compared to analysts’ expectations of $6.80 billion. BlackRock had a net margin of 22.93% and a return on equity of 15.14%. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the previous year, the company earned $11.93 earnings per share. On average, sell-side analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Friday, March 6th will be issued a $5.73 dividend. This is a boost from BlackRock’s previous quarterly dividend of $5.21. The ex-dividend date of this dividend is Friday, March 6th. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.1%. BlackRock’s payout ratio is presently 58.84%.

BlackRock Company Profile

(Get Free Report)

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

Read More

Analyst Recommendations for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.