ValuEngine cut shares of BlackRock (NYSE:BLK) from a hold rating to a sell rating in a research note published on Friday morning.

A number of other research firms have also recently commented on BLK. Citigroup raised BlackRock from a neutral rating to a buy rating in a research note on Monday, June 18th. Keefe, Bruyette & Woods raised BlackRock from a market perform rating to an outperform rating and set a $590.00 target price on the stock in a research note on Friday, July 13th. Barclays cut their target price on BlackRock from $615.00 to $595.00 and set an overweight rating on the stock in a research note on Tuesday, July 17th. Goldman Sachs Group cut their target price on BlackRock to $570.00 and set a buy rating on the stock in a research note on Tuesday, July 17th. Finally, Morgan Stanley cut their target price on BlackRock from $624.00 to $607.00 and set an overweight rating on the stock in a research note on Thursday, July 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $590.62.

Shares of BLK stock opened at $427.70 on Friday. BlackRock has a 1 year low of $415.35 and a 1 year high of $594.52. The company has a current ratio of 3.87, a quick ratio of 3.87 and a debt-to-equity ratio of 0.88. The company has a market cap of $75.22 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 1.46 and a beta of 1.55.

BlackRock (NYSE:BLK) last released its earnings results on Monday, July 16th. The asset manager reported $6.66 EPS for the quarter, beating analysts’ consensus estimates of $6.55 by $0.11. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.58 billion. BlackRock had a return on equity of 13.20% and a net margin of 38.97%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.24 earnings per share. On average, equities research analysts anticipate that BlackRock will post 27.74 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 24th. Investors of record on Friday, September 7th were paid a $3.13 dividend. The ex-dividend date of this dividend was Thursday, September 6th. This represents a $12.52 annualized dividend and a yield of 2.93%. This is a boost from BlackRock’s previous quarterly dividend of $2.88. BlackRock’s dividend payout ratio is 55.40%.

In other news, Director William E. Ford acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 18th. The shares were bought at an average price of $507.98 per share, with a total value of $507,980.00. Following the completion of the purchase, the director now directly owns 4,400 shares in the company, valued at $2,235,112. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Laurence Fink sold 19,800 shares of the stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $507.67, for a total value of $10,051,866.00. Following the completion of the transaction, the chairman now directly owns 1,098,328 shares in the company, valued at approximately $557,588,175.76. The disclosure for this sale can be found here. 1.75% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Clarus Wealth Advisors bought a new stake in BlackRock during the 2nd quarter valued at $133,000. Canton Hathaway LLC bought a new stake in BlackRock during the 3rd quarter valued at $146,000. AlphaMark Advisors LLC bought a new stake in BlackRock during the 2nd quarter valued at $147,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in BlackRock during the 2nd quarter valued at $150,000. Finally, Kaizen Advisory LLC boosted its position in BlackRock by 156.7% during the 2nd quarter. Kaizen Advisory LLC now owns 308 shares of the asset manager’s stock valued at $154,000 after acquiring an additional 188 shares in the last quarter. 82.80% of the stock is currently owned by institutional investors.

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.

Read More: Price to Earnings Ratio (PE), For Valuing Stocks

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for BlackRock (NYSE:BLK)

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