BlackRock (NYSE:BLK) Given Average Rating of “Moderate Buy” by Analysts

BlackRock (NYSE:BLKGet Free Report) has earned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $1,308.8889.

A number of analysts have recently commented on BLK shares. Wall Street Zen raised shares of BlackRock from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of BlackRock in a report on Monday, December 29th. CICC Research boosted their price objective on BlackRock from $1,000.00 to $1,250.00 in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. increased their target price on BlackRock from $1,244.00 to $1,267.00 and gave the company a “neutral” rating in a report on Friday, January 9th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $1,313.00 target price on shares of BlackRock in a research report on Tuesday, December 9th.

Read Our Latest Analysis on BLK

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Here are the key news stories impacting BlackRock this week:

BlackRock Price Performance

BlackRock stock opened at $922.79 on Friday. The stock has a market capitalization of $143.53 billion, a P/E ratio of 26.05, a P/E/G ratio of 1.18 and a beta of 1.48. The company’s fifty day moving average price is $1,075.75 and its 200 day moving average price is $1,092.52. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.98 and a current ratio of 2.98. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94.

BlackRock (NYSE:BLKGet Free Report) last posted its quarterly earnings data on Thursday, January 15th. The asset manager reported $13.16 earnings per share for the quarter, topping analysts’ consensus estimates of $12.55 by $0.61. The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.80 billion. BlackRock had a net margin of 22.93% and a return on equity of 14.78%. The firm’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same period in the prior year, the business posted $11.93 earnings per share. As a group, equities research analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Friday, March 6th will be issued a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, March 6th. This is an increase from BlackRock’s previous quarterly dividend of $5.21. BlackRock’s payout ratio is 64.71%.

Insider Buying and Selling at BlackRock

In other news, Director Stephen Cohen sold 225 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $1,069.56, for a total value of $240,651.00. Following the transaction, the director directly owned 5,661 shares of the company’s stock, valued at approximately $6,054,779.16. This trade represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director J. Richard Kushel sold 385 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $1,084.91, for a total transaction of $417,690.35. Following the transaction, the director owned 3,335 shares in the company, valued at $3,618,174.85. The trade was a 10.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 111,319 shares of company stock worth $123,999,249. Company insiders own 1.98% of the company’s stock.

Institutional Trading of BlackRock

Hedge funds have recently bought and sold shares of the business. Corient Private Wealth LLC increased its holdings in shares of BlackRock by 5,190.3% in the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock valued at $5,876,618,000 after purchasing an additional 5,386,640 shares during the last quarter. Norges Bank acquired a new position in BlackRock during the fourth quarter worth $2,742,680,000. Laurel Wealth Advisors LLC grew its holdings in BlackRock by 105,267.4% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,705,899 shares of the asset manager’s stock valued at $1,789,915,000 after buying an additional 1,704,280 shares in the last quarter. Oak Harvest Investment Services grew its holdings in BlackRock by 12,176.1% in the 4th quarter. Oak Harvest Investment Services now owns 1,595,153 shares of the asset manager’s stock valued at $1,707,356,000 after buying an additional 1,582,159 shares in the last quarter. Finally, Auto Owners Insurance Co increased its stake in shares of BlackRock by 106,934.0% in the 4th quarter. Auto Owners Insurance Co now owns 1,284,408 shares of the asset manager’s stock worth $128,441,000 after acquiring an additional 1,283,208 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

About BlackRock

(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.

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