Brokerages Set BlackRock (NYSE:BLK) PT at $1,311.06

Shares of BlackRock (NYSE:BLK) have earned an average rating of “Moderate Buy” from the eighteen analysts that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $1,311.0588.

A number of research firms have recently weighed in on BLK. Barclays boosted their target price on BlackRock from $1,340.00 to $1,450.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods lowered BlackRock from a “moderate buy” rating to a “hold” rating in a research report on Friday, August 7th. BNP Paribas Exane boosted their price objective on BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. BMO Capital Markets upped their target price on shares of BlackRock from $1,250.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Finally, Morgan Stanley lifted their price target on shares of BlackRock from $1,383.00 to $1,488.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th.

Institutional Trading of BlackRock

Several institutional investors and hedge funds have recently made changes to their positions in BLK. Brighton Jones LLC grew its position in shares of BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after buying an additional 296 shares during the period. Bison Wealth LLC boosted its stake in BlackRock by 1.6% during the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock worth $1,078,000 after acquiring an additional 17 shares during the last quarter. Schnieders Capital Management LLC. acquired a new position in BlackRock during the second quarter valued at approximately $259,000. Nebula Research & Development LLC bought a new stake in BlackRock in the second quarter valued at approximately $548,000. Finally, Osterweis Capital Management Inc. acquired a new stake in BlackRock in the second quarter worth $98,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

BLK opened at $1,080.78 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. The stock has a market capitalization of $167.38 billion, a P/E ratio of 25.83, a price-to-earnings-growth ratio of 1.19 and a beta of 1.41. The company’s 50 day simple moving average is $1,103.83 and its 200-day simple moving average is $1,049.52. BlackRock has a one year low of $917.39 and a one year high of $1,219.94.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, topping the consensus estimate of $12.69 by $1.22. The firm had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. BlackRock’s revenue was up 30.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $12.05 EPS. Sell-side analysts anticipate that BlackRock will post 55.86 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be paid a $5.73 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a yield of 2.1%. BlackRock’s dividend payout ratio (DPR) is presently 54.78%.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s flagship private-credit fund received fewer withdrawal requests in the third quarter, while redemption activity across other funds also declined. The improvement suggests investor sentiment may be stabilizing and could reduce liquidity pressure across private credit and support fee-generating assets under management. BlackRock private credit fund sees redemption pressure ease in third quarter
• Positive Sentiment: A separate disclosure covering four BlackRock private-credit funds also highlighted third-quarter redemption requests. Together with the reported decline in withdrawals, the updates may ease concerns about forced asset sales, fund liquidity and pressure on BlackRock’s alternative-investment franchise. BlackRock discloses Q3 redemption requests across four private credit funds
• Neutral Sentiment: BlackRock’s MuniYield New York Quality Fund declared a $0.0512 dividend. The payment supports income-oriented investors and may help product demand, but it is a fund-level distribution rather than a direct change to BlackRock’s corporate earnings. BlackRock MuniYield New York Quality Fund declares $0.0512 dividend
• Neutral Sentiment: Articles promoting BlackRock’s higher-yielding ETFs and technology-focused closed-end funds could support product visibility and asset gathering, but they provide no new companywide financial guidance. BlackRock ETFs offer higher income
• Neutral Sentiment: A headline about Block’s proposed national trust bank concerns Block, Inc. (NYSE: XYZ), not BlackRock (NYSE: BLK), and should not be interpreted as news affecting BlackRock’s stock. Block Makes a Federal Trust Bank Move

About BlackRock

BlackRock, Inc is a global investment management and financial technology company serving institutional and individual investors, governments, and financial professionals. The company offers a range of investment products and services, including mutual funds, exchange-traded funds, separately managed accounts, and alternative investments across equities, fixed income, multi-asset, and other strategies.

BlackRock is also known for its iShares brand of exchange-traded funds, which provides access to markets and asset classes worldwide.