BlackRock Inc. (BLK) Price Target Raised to $367.00 at Jefferies Group
A number of other brokerages have also recently commented on BLK. Barclays PLC reaffirmed a hold rating on shares of BlackRock in a report on Sunday, July 17th. Deutsche Bank AG reaffirmed a buy rating and issued a $392.00 target price (up from $372.00) on shares of BlackRock in a report on Sunday, July 10th. Zacks Investment Research raised shares of BlackRock from a hold rating to a buy rating and set a $410.00 target price on the stock in a report on Monday, September 19th. Citigroup Inc. reaffirmed a buy rating on shares of BlackRock in a report on Thursday, June 16th. Finally, Wells Fargo & Co. reaffirmed a hold rating on shares of BlackRock in a report on Monday, July 11th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $383.19.
BlackRock (NYSE:BLK) traded up 0.14% during trading on Tuesday, reaching $352.36. 140,799 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $365.63 and a 200 day moving average price of $357.08. The firm has a market capitalization of $57.95 billion, a price-to-earnings ratio of 18.77 and a beta of 1.46. BlackRock has a 52 week low of $280.55 and a 52 week high of $376.65.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Thursday, July 14th. The company reported $4.78 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by $0.04. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period in the previous year, the business posted $4.96 EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. Equities research analysts forecast that BlackRock will post $19.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were paid a dividend of $2.29 per share. This represents a $9.16 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend was Wednesday, August 31st. BlackRock’s dividend payout ratio (DPR) is presently 48.83%.
In other news, Director J. Richard Kushel sold 8,000 shares of BlackRock stock in a transaction on Friday, July 15th. The stock was sold at an average price of $356.55, for a total transaction of $2,852,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Mccombe sold 1,400 shares of BlackRock stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $374.92, for a total value of $524,888.00. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Feltz Wealth PLAN Inc. purchased a new position in BlackRock during the second quarter valued at about $126,000. Mycio Wealth Partners LLC increased its position in shares of BlackRock by 3.3% in the second quarter. Mycio Wealth Partners LLC now owns 379 shares of the company’s stock valued at $130,000 after buying an additional 12 shares during the last quarter. Ropes Wealth Advisors LLC increased its position in shares of BlackRock by 35.3% in the first quarter. Ropes Wealth Advisors LLC now owns 387 shares of the company’s stock valued at $132,000 after buying an additional 101 shares during the last quarter. Citizens Financial Group Inc RI increased its position in shares of BlackRock by 16.1% in the first quarter. Citizens Financial Group Inc RI now owns 389 shares of the company’s stock valued at $133,000 after buying an additional 54 shares during the last quarter. Finally, Financial Architects Inc increased its position in shares of BlackRock by 7.8% in the second quarter. Financial Architects Inc now owns 431 shares of the company’s stock valued at $148,000 after buying an additional 31 shares during the last quarter. 81.58% of the stock is owned by institutional investors and hedge funds.
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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