Argus Reiterates Buy Rating for BlackRock (BLK)
Argus reissued their buy rating on shares of BlackRock (NYSE:BLK) in a report issued on Tuesday. They currently have a $620.00 price objective on the asset manager’s stock, up from their prior price objective of $520.00.
Other equities research analysts have also recently issued reports about the stock. Credit Suisse Group reiterated a buy rating and issued a $680.00 price objective on shares of BlackRock in a report on Friday, January 12th. Zacks Investment Research upgraded shares of BlackRock from a hold rating to a buy rating and set a $501.00 price objective for the company in a report on Tuesday, October 3rd. Goldman Sachs Group upgraded shares of BlackRock from a neutral rating to a buy rating and upped their price objective for the stock from $440.00 to $500.00 in a report on Thursday, September 28th. Citigroup upped their price objective on shares of BlackRock to $625.00 and gave the stock a buy rating in a report on Tuesday. Finally, Jefferies Group reiterated a hold rating and issued a $465.00 price objective on shares of BlackRock in a report on Thursday, October 12th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $547.92.
BlackRock (NYSE:BLK) traded up $5.96 during trading on Tuesday, hitting $585.18. 210,392 shares of the stock traded hands, compared to its average volume of 693,600. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89. BlackRock has a fifty-two week low of $365.83 and a fifty-two week high of $584.21. The stock has a market cap of $93,580.00, a PE ratio of 19.31, a P/E/G ratio of 1.55 and a beta of 1.81.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.94 by $0.30. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. BlackRock’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the prior year, the company posted $5.14 earnings per share. research analysts anticipate that BlackRock will post 28.52 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th will be issued a dividend of $2.88 per share. This represents a $11.52 dividend on an annualized basis and a yield of 1.97%. This is a boost from BlackRock’s previous quarterly dividend of $2.50. The ex-dividend date of this dividend is Tuesday, March 6th. BlackRock’s dividend payout ratio is 33.00%.
In other BlackRock news, insider Jeff A. Smith sold 425 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $565.96, for a total transaction of $240,533.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan Wagner sold 4,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the sale, the director now owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The disclosure for this sale can be found here. Insiders have sold 4,525 shares of company stock valued at $2,312,687 over the last 90 days. Corporate insiders own 1.86% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in BLK. Third Point LLC acquired a new position in shares of BlackRock during the second quarter valued at about $654,736,000. Capital World Investors raised its position in shares of BlackRock by 12.9% during the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock valued at $3,001,358,000 after buying an additional 810,667 shares during the last quarter. Vanguard Group Inc. raised its position in shares of BlackRock by 8.4% during the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock valued at $3,569,693,000 after buying an additional 656,569 shares during the last quarter. BlackRock Inc. raised its position in shares of BlackRock by 3.2% during the second quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock valued at $2,851,570,000 after buying an additional 209,209 shares during the last quarter. Finally, Stifel Financial Corp raised its position in shares of BlackRock by 2,450.2% during the third quarter. Stifel Financial Corp now owns 181,678 shares of the asset manager’s stock valued at $81,105,000 after buying an additional 174,554 shares during the last quarter. 83.55% of the stock is owned by institutional investors and hedge funds.
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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.