BlackRock (NYSE:BLK) Price Target Increased to $1,010.00 by Analysts at Barclays

BlackRock (NYSE:BLK) had its price target lifted by Barclays from $990.00 to $1,010.00 in a research report sent to investors on Monday, Benzinga reports. Barclays currently has an overweight rating on the asset manager’s stock.

Several other equities analysts also recently commented on BLK. Deutsche Bank Aktiengesellschaft upped their price objective on shares of BlackRock from $912.00 to $937.00 and gave the company a buy rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on BlackRock from $774.00 to $864.00 and gave the stock a neutral rating in a report on Tuesday, October 1st. Evercore ISI boosted their target price on BlackRock from $945.00 to $995.00 and gave the company an outperform rating in a research note on Friday, October 4th. The Goldman Sachs Group raised their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a buy rating in a research note on Thursday, October 3rd. Finally, Morgan Stanley boosted their price objective on shares of BlackRock from $1,036.00 to $1,150.00 and gave the company an overweight rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $972.23.

BlackRock Stock Down 0.0 %

BLK opened at $955.57 on Monday. BlackRock has a 12 month low of $596.18 and a 12 month high of $963.33. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average price is $894.70 and its 200-day moving average price is $829.20. The company has a market cap of $142.00 billion, a P/E ratio of 24.28, a P/E/G ratio of 2.05 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the firm posted $9.28 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities analysts expect that BlackRock will post 41.37 EPS for the current year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were issued a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.13%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Insider Activity

In other news, Director Mark Wiedman sold 27,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now owns 6,480 shares in the company, valued at $5,407,041.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,407,041.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now owns 5,732 shares in the company, valued at $4,826,802.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock worth $79,387,117 over the last three months. 0.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BlackRock

A number of hedge funds have recently added to or reduced their stakes in BLK. Ossiam raised its position in BlackRock by 10.8% in the fourth quarter. Ossiam now owns 2,490 shares of the asset manager’s stock worth $2,021,000 after acquiring an additional 242 shares during the period. XML Financial LLC increased its position in BlackRock by 15.4% in the fourth quarter. XML Financial LLC now owns 411 shares of the asset manager’s stock worth $333,000 after buying an additional 55 shares in the last quarter. Bennett Associates Wealth Management bought a new position in shares of BlackRock in the fourth quarter worth about $573,000. Greystone Financial Group LLC purchased a new stake in BlackRock in the 4th quarter worth $231,000. Finally, Ethic Inc. lifted its position in shares of BlackRock by 7.5% in the fourth quarter. Ethic Inc. now owns 7,044 shares of the asset manager’s stock valued at $5,719,000 after acquiring an additional 492 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

About BlackRock

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.